Musk tweeted, “Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.” Moreover, he noted that he did not earn any salary or bonus from any company and only owned stock, so selling his stake was the only way to pay taxes.

Twitter users voted in favor of Musk selling his 10% stake. Yesterday’s sell-off reflected investors’ apprehension regarding how and when Musk would react to the outcome of his poll. However, the stock dropped after the EV giant’s CEO, Elon Musk, initiated a poll on Twitter ( TWTR) to determine whether he should sell a 10% stake in the company. Tesla has been a frontrunner when it comes to EVs.

Let’s compare two such EV companies, Tesla ( TSLA), an established EV player, and a relatively new entrant, Lucid Group ( LCID), and see how Wall Street analysts feel about these stocks using the TipRanks stock comparison tool. President Joe Biden signed an executive order that intends to make 50% of all new vehicles sold in the United States electric by 2030. The market got a further boost this year when U.S. is heating up with new entrants or legacy automakers like Ford ( F) and General Motors ( GM) pursuing the EV segment. The firm has Underperform ratings on both Canoo and Lordstown and it has price targets of $5 for both companies.The EV market in the U.S. The firm has a Buy rating on Lucid and a $60 price target.īofA has a Neutral rating on Fisker and a $24 price target. The firm rates Rivian a Buy and has a $170 price target. Valuation: BofA has a Neutral rating on Tesla and a $1,200 price target. Management: Tesla, Rivian and Lucid have better management setups in place, while the other three have less experienced teams at the helm, Murphy said. The financial positions of Canoo and Lordstown leave much to be desired, he added. HNHPF, fare better here, Murphy said.Ĭommercialization: Tesla, Rivian, Lucid and Fisker have a better commercialization strategy than the others, the analyst noted.įinancial Inflection & Need And Access to Capital: Tesla alone is comfortably positioned on this front, while Rivian, Fisker and Lucid have fairly OK positioning, Murphy said. MGA and Hon Hai Precision Industry Co., Ltd. AMZN as its key anchor partner/customer, and Fisker, with partnerships starting with Magna International Inc. Related Link: Is Tesla Ready To Reverse - Or Will Elon Musk's Selling Continue To Pressure The Stock?Ĭustomers & Partnerships: Rivian, with Amazon, Inc.

Go-To-Market Strategy: Tesla Lucid and Fisker, with their direct-to-consumer model, and Rivian, with its focus on capturing revenue beyond the initial point of sales, score better in terms of their marketing strategy, Murphy said. All the six EV makers are found wanting in this area, he added. RIDE is catering to a more narrow market, the analyst said.Ĭompetitive Dynamics: The competitive environment is turning fiercer given the push by traditional automakers and efforts of the newer startup EV makers to leverage the significant growth opportunity, Murphy said. Canoo Inc.'s GOEV addressable market appears to be in a flux and Lordstown Motors Corp.

Lucid vs tesla