Tesla and Rivian both smash delivery estimates — ride the EV recovery wave
Both Tesla and Rivian just reported much better delivery numbers than Wall Street expected. This is happening against a backdrop of massive spending powering the broader bull market, making EV stocks look like a prime catch-up trade.
Idea
Tesla has been recovering from consumer backlash, and its Q2 delivery beat of 480,126 vehicles signals the worst may be over. Meanwhile, Rivian also beat guidance and raised its full-year outlook, showing broad strength in the EV space. With Goldman Sachs noting that massive capital spending is underpinning the broader bull market, the heavy infrastructure investments in EV manufacturing align perfectly with this macro trend. This combination of company-specific beats and a favorable macro spending backdrop makes the EV sector a strong momentum play.
What happened since
| Symbol | Dir | T+1 | T+5 | T+20 |
|---|---|---|---|---|
| TSLA | LONG | -2.89% ✗ | -0.55% ✗ | — |
Price change since publication · updated Jul 11