Can Rivian Hurt Tesla After Elon Musk Sells Stake? | Midas Letter RAW ft $ORAN $AYR.A $STCK

Tesla Inc (NASDAQ:TSLA) has dominated the electric vehicle space since Elon Musk took over as CEO. Its meteoric rise in the stock market has never been rivalled by any company let alone another automobile company. But, investors are always searching for other similar EV opportunities that could present themselves.

NIO Inc (NYSE:NIO) has had success being the #1 market share in electric SUV’s in China. We won’t even discuss Nikola Motors (NASDAQ:NKLA).

Now there is a new contender in town; Rivian Automotive Inc (NASDAQ:RIVN). The stock’s initial public offering (IPO) was a great success and its shares are up almost 25% since then to about $123 per share. Rivian is already the second most valuable automaker in America. Rivian is already bigger than Ford Motor Company (NYSE:F) and General Motors (NYSE:GM).

Elon Musk famously tweeted this week that he would be selling 10% of his stake in Tesla. After the Twitter audience poll came out in favour of him selling shares, Musk sold around $5bn of shares in the electric carmaker. While reading that tweet, investors may have seen a Tesla dip incoming and jumped to quite the opportunity in Rivian’s IPO.

The downturn in Tesla and Rivian’s rise may turn out to be insignificant in the future, but we will be interested to find out what happens to Tesla’s market share as more and more EV companies are created.

We also have 3 exclusive interviews on deck in this weeks episode of Midas Letter RAW:

Orange (NYSE:ORAN) Cameroon Director of Engineering And Network Development Abdallah Nassar

Orange, the mobile telecommunications international behemoth, has a growth plan to grow its presence in rural areas. The company hopes to accelerate the development in those regions by expanding access to financial services. One of the ways Orange has gone about the global problem of disconnectivity is to partner with NuRAN Wireless Inc (CNSX:NUR, OTCMKTS:NRRWF). Orange has signed partnership contracts with NuRAN for the build-out of networking sites in Cameroon and the Democratic Republic of the Congo (DRC) for a minimum term of ten years. This partnership has the capacity to connect 10’s of millions of people.

Ayr Wellness Inc (OTCMKTS:AYRWF, CNSX:AYR.A) CEO Jonathan Sandelman

Ayr Wellness is on track to become the largest-scale cultivator in the US with a focus on building market-leading consumer brands. The company has always maintained positive EBITDA and cash flow since its SPAC introduction to public markets. This distinction from many other cannabis players has allowed the company to keep growing while access to capital in the weed stocks industry has become more limited.

Stack Capital Group Inc (TSE:STCK) CEO Jeff Parks

Stack Capital provides access to growth & late-stage private equity opportunities for non-accredited investors. The company’s goal is to invest in the most disruptive private companies. Stack Capital is only new to markets but has already invested indirectly in SpaceX. Who wouldn’t want exposure to SpaceX in the emerging “space economy” industry?

Original article: Can Rivian Hurt Tesla After Elon Musk Sells Stake? | Midas Letter RAW ft $ORAN $AYR.A $STCK

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