The ongoing downtrend in the electric vehicle market is hurting all firms except for Tesla (TSLA). Bears dare not bet against Tesla’s fan base, since the firm may pivot out of the EV market. Tesla has battery storage, Cyber trucks, and self-driving taxis as its next source of growth.
Rivian (RIVN) is not so lucky. Shares peaked in the summer at around $18.00. It closed at $11.71, down by 12% on the week. At a pair of investor conferences, Rivian’s CEO R.J. Scaringe said that the firm faces near-term production issues. This is due to supplier problems, which hurts its near-term production rates.
StoneCo (STNE), a Brazilian fintech supplier, lost 8.98% in the last week. Earlier this month on Sept. 5, Morgan Stanley downgraded the stock to underweight. The analyst speculated that StoneCo’s growth peaked this year. Neither StoneCo nor PagSeguro are positioned to manage through the saturated payments market.
Trump Media (DJT) risks falling to fresh new lows this week. Bears are betting that Trump will dump the stock, even though he suggested he would not do so. The lockup period ended on September 19 at 4 p.m. ET. Trump owns 115 million shares. If he sells his stake, he would net around $1.5 billion.
DJT’s underlying business generated less than $800,000 in revenue in the last quarter or $3.43 million for the year. Investors should also be wary of speculating on Rumble (RUM) or Snap (SNAP).
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