Motley Fool
Why Tesla Stock Popped Again Tuesday
Six days ago, Tesla (NASDAQ: TSLA) stock dropped in response to comments from would-be rival Lucid Motors (coming public via special-purpose acquisition company (SPAC) Churchill Capital Corp IV (NYSE: CCIV) soon), whose CEO Peter Rawlinson boasted that his company’s new “Air” electric vehicle would be more efficient than a Tesla Model S and steal away $900 million in sales that might otherwise have gone to Tesla. Tesla stock dropped on this reminder of increased competition, so I guess it makes sense that today, we’re seeing Tesla stock rise in response to news than some other competition is falling further behind in this race. As CNBC first reported late last week, and as Tesla fan site Teslarati re-reported today, construction delays and supply-chain disruptions from the pandemic have forced electric-truck upstart Rivian to delay deliveries of its ballyhooed R1T electric-pickup truck until September.