CNBC's 'Squawk on the Street' crew discuss Tesla as the electric carmaker's stock was hit with several downgrades since the Trump-Musk fallout.

Tesla Inc dropped 14% in a single day yesterday, representing one of its most significant one-day falls in the past few years.

If you are an investor interested in owning electric vehicle (EV) stocks, does the recent fall by Tesla mean it's time to move to buy competitors such as Rivian Automotive ( RIVN -1.49%) instead for your portfolio? Let's take a closer look at this smaller EV upstart and see if an answer presents itself.

Tesla stock traded higher early Wednesday as shares continue to recover from last week's sell-off with the feud between Elon Musk and President Trump cooling down.

"It is a convergence among three of our major platforms. So robots, energy storage, AI," Wood said of Tesla.

Tesla’s stock was recently right around the price at which it closed the session before a spat between CEO Elon Musk and President Donald Trump culminated in a one-day drop of about $150 billion in Tesla’s market value.

Musk attempted to appeal to a F-150 and Ram crowd that hates his cars, while completely losing the Tesla crowd that loved his cars.’ Tesla is anything but a boring stock, Ill

Shares of Tesla (NASDAQ: TSLA) are up this week, climbing 10.3% as of market close on Friday. The rise came as the S&P 500 (SNPINDEX: ^GSPC) and the Nasdaq Composite (NASDAQINDEX: ^IXIC) both sank modestly.