Rivian and Lucid shares drop as Tesla stock rises amid Trump presidency concerns

Shares of electric vehicle startups Rivian and Lucid fell sharply by 5.3% and 8.3%, respectively, while Tesla's stock rose. Analysts suggest that Tesla's established profitability and connections may shield it from potential challenges posed by a second Trump presidency. Trump's plans could impact the EV market significantly. He has indicated intentions to rescind environmental regulations and eliminate EV incentives, which may hurt newer companies like Rivian and Lucid. In contrast, legacy automakers like GM and Ford saw their shares rise. The future of EV regulations remains uncertain. Trump may roll back emissions standards and tariffs on foreign vehicles, which could benefit traditional automakers. Meanwhile, Tesla and other companies are preparing to adapt to the changing landscape.