I have noticed a lot of continuing negative sentiment over LCID, NIO, & RIVN lately. TSLA has hit a two year low and I understand why Musk is bad mouthing any threats to his cash cow. But I am speculating that there are greater forces at work by huge foreign government backed forces than ever before, in the market in general and specifically for LCID and NIO. To disclose, I am long LCID, buying in on an earlier dip. (Meaning I am WAY under water now.) But I could never get behind NIO.
NIO seemed to just be a way for a holding company to generate cash for a China backed startup, a shell company really. LCID on the other hand does hold assets. Both of these companies are backed by governments. Is China (or their uber rich) really going to let NIO go bankrupt? Is the Saudi Sovern Wealth fund that has backed LCID really going to let them go bust?
Does it seem reasonable that some “big announcement” is pending that would ultimately have these companies become major auto makers?
Just curious what others more savvy than me might be thinking…
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