EVs, Lithium and the Big Market Delusion
Tesla shares have more than doubled in the first six months of 2023, rebounding after a tough 2022. The carmaker is the most visible firm associated with the transition to EVs and the green energy transition more broadly. And its success has spurred the entry of competitors the world over. Snaring even a fraction of that pie will be more than enough, the thinking goes. But that’s what I want to discuss today — the perilous reliance on big markets to evaluate a stock’s potential…
