Some of the best electric vehicle (EV) stocks seem to be running out of steam in August. Undoubtedly, the broader tech market sell-off has been quite harsh among EV plays, as fears of a recession could further soften demand for such big-ticket purchases. Though a harder-than-expected landing would surely weigh on demand for autos, there are certain names in the EV scene that can gain over the competition.
Indeed, Tesla (NASDAQ:TSLA) isn’t the only EV play anymore. While Elon Musk’s legendary firm has been able to steer clear of devastating pitfalls many up-and-coming rivals fell into, the stock remains in the midst of a historic rut. As new, emerging competitive threats arise while consumers steer toward hybrid options or more affordable fully-electric vehicles, perhaps Tesla is no longer the go-to option for investors seeking EV exposure.
Either way, let’s check out three bruised EV stocks that may have too much…
