This episode is a little different that usual. During COVID we started an 'Afternoon Beer Discussions' series on YouTube. The concept was simple - we'd jump on Zoom and discuss one topic over one beer. It was a chance for us to just chat about a topic that interested us and it was a little more informal that your usual Equity Mates podcast episode. We've just brought the series back to YouTube and wanted to share an episode for our podcast listeners to enjoy.
In this episode we break down the state of the electric vehicle industry and what is happening with the three major US electric vehicle stocks - Tesla (NASDAQ: TSLA), Nikola (NASDAQ: NKLA) and Workhorse Group (NASDAQ: WKHS).
We are all witnessing a massive, structural change in the way cars and trucks are made. In response to climate change, petrol-fuelled, internal combustion engines are being replaced by electric and hydrogen-powered engines. The companies leading this change had enjoyed incredible share price performance to start 2020 (Tesla was up 480%, Nikola was up 673% and Workhorse was up 897%). However, the last few months have seen all of these stocks fall and lose at least a quarter of their value. In this episode we chat about what has happened and why all three companies have seen their share price fall recently.
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