Electric vehicle (EV) stocks may be taking a hit right now, but there are plenty of reasons to still be optimistic about the EV industry's long-term prospects. Here's why Tesla (NASDAQ: TSLA) still looks like a good buy and why you should avoid Canoo (NASDAQ: GOEV). Tesla's stock hasn't exactly performed fantastically over the past year.
Rackspace Technology Inc (NASDAQ:RXT) Director, Shashank Samant, bought 100,000 shares on 11/29/22 at $4.5462. The value of the purchases was $454,620. Shares gained 3.9% for the week to $4.85.
Longtime holders of Canoo (NASDAQ: GOEV) stock still may not be doing well, but its shares have been making up some ground this week. But after a more than 80% drop this year, some aggressive investors are following the CEO's lead and buying Canoo shares this week.