For a while, it seemed like a couple of electric vehicle companies had a real chance at carving out their own niche: Rivian (RIVN) and Nio (NIO), both of which were, in their own way, forming strong, long-term basing patterns. In the midst of this raging bull market, these patterns have both eroded away in such a way that the quality of the base has failed, and I suspect these will find their way in the same position as Lucid has: dead in the water.
