EV roundup: Tesla bull throws in the towel, Nio reports strong sales, Rivian rises on outlook

Here are three big stories moving EV (electric vehicle) stocks today:

A Tesla bull throws in the towel

After yet another share sale this week by Tesla (TSLA) CEO Elon Musk (and an ensuing stock drop yesterday) and the latest headlines coming out Musk’s takeover of Twitter, Wedbush analyst Dan Ives has seen enough.

Ives, one of the biggest Tesla bulls on Wall Street, took Tesla off the firm’s “Best Ideas” list and cut its price target to $250 from $300.

“In what has been a dark comedy show with Twitter, Musk has essentially tarnished the Tesla story/stock and is starting to potentially impact the Tesla brand with this ongoing Twitter train wreck disaster,” Ives wrote in a note today.

“From selling Tesla stock again and again, to the PR nightmare that Twitter has become, cutting 50% of employees and then needing to bring some back, Musk’s attention focus from Tesla to Twitter, and ultimately the fear that this Twitter lightening rod of controversy on a daily (almost hourly)…

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This article was written by and originally published on finance.yahoo.com