Close-up shot of Rivian R1T_ Image by Trong Nguyen via Shutterstock_ Electric vehicle (EV) stocks are having a dismal run, to say the least. Many have simply gone bankrupt as the euphoria that we saw between 2020 and 2021 has faded away. Some have survived but remain a pale shadow of their past, Lucid Group (LCID) and Rivian (RIVN), for instance. The former almost became a $100 billion company in 2021 but now has a market cap below $2 billion and is a penny stock despite a 1-for-10 reverse stock split last year.
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