Tesla was a driving force in creating the electric vehicle market and became one of the most popular brands across any industry for its technology and focus on sustainable energy. Tesla’s success helped make CEO Elon Musk one of the world’s wealthiest and most famous people.
However, a recent poll indicates that Elon Musk’s decision to wade into a divisive political landscape has tarnished Tesla’s brand.
It could open the door for competitors like Rivian Automotive (NASDAQ: RIVN), which hopes to establish itself but has struggled to grow its business. Is Tesla’s potential slip the opportunity Rivian needs, and should investors buy the stock?