A series of companies from the US to China decreased in value by half, even Tesla did not “escape” the decline

Source: llodo.com llodo.com

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This week, Amazon and Ford reported that they have lost a combined $12.3 billion in the past three months due to investments in electric vehicle company Rivian. The losses dampened hopes that any electric vehicle company “will inevitably turn to gold.” Even Rivian, considered by many auto experts to be the most promising Western electric vehicle start-up, is not immune to the boom and bust cycle unfolding in the electric vehicle market. But experts say this is typical as new industries arise. Rivian’s stock has fallen 75% since its initial public offering last year. In November 2021, Rivian was valued...