Some of the best Tesla rivals to buy are popular Chinese EV stocks like Rivian, XPeng, and Li Auto. Rivian is one of the top Tesla rivals to buy and hold this year. While Rivian’s fundamentals are not all that strong, technicals suggest a strong surge in the coming months.

Tesla’s stock has dropped by nearly half in three months. Even so, investors are still debating whether Elon Musk's electric-vehicle maker remains overpriced.

Mashable notes that as of Tuesday morning Trump has offered up no evidence that he followed through with his pledge to buy a Tesla vehicle. As for Musk, he's spent the day personally thanking his fans, such as conspiracy theorist Alex Jones, for voicing their support for Tesla on his social media platform X.