If there was one takeaway theme from Super Bowl 2022 ads, it was crypto. The day’s ads featured companies such as FTX and Crypto.com (USD-CRO). While many viewers were captivated by comedian Larry David’s performance, several electric vehicle (EV) producers also launched commercials. A memorable announcement came from The North Starthe electric vehicle brand that plans to go public in 2022 by merging with Gores Goggenheim (NASDAQ:GGPI). The company poked fun at Super Bowl ads in general, but it took a few not-so-subtle jabs at You’re here (NASDAQ:TSLA). Specifically, it took Elon Musk a beating. If the recent performance of TSLA shares is any indication, however, the publicity hasn’t affected the company too much.
What’s going on with TSLA stocks
After a tough weekend, TSLA stock appears to be making up lost ground. He started the day on the upswing and, despite an earlier dive, bounced back and got back into the green. As of this writing, it is up almost 2% for the day after rising 4% earlier. While TSLA remains in the red 3.2% for the week, it’s definitely time for it to move back into the green if this week’s growth continues.
Polestar, on the other hand, doesn’t have much to brag about. After calling Musk, the company saw shares of GGPI fall while those of Tesla rose. After a rocky start, GGPI stock is down 1.5% for the day. Despite an attempt to rebound, it should end the day in the red. While still up 6.4% for the week, the day’s declines pushed it down 0.98% for the month.
why is it important
The Polestar ad doesn’t just poke fun at Tesla. It begins by simply stating “No epic voiceovers” and goes on to state “No dieselgate. No dirty secrets. No hidden agenda. The first thing listed is a clear nod to the volkswagen (OTCMKTS:VWAGY) 2019 emissions scandal. A few seconds later, however, it says “No Conquest of Mars.” At that point, the company’s ambition to criticize its rival became clearer.
Fans were excited about Polestar’s Super Bowl publicity debut. Unfortunately, it may have missed the mark, as the company created as much buzz for Tesla as it did for itself. Shares are only up for one of those companies today, and it’s not Polestar. It’s also bold of the small EV producer to take such a clear shot at its industry leader. The company clearly wants to present itself as the image of social responsibility in the electric vehicle sector. However, this does not instantly make it a good investment. InvestorPlace Contributor Josh Enomoto recently speculated that despite the company’s reasonably priced vehicles, inflation could easily work against it. Competition is also heating up as other automakers scramble to tap into the affordable electric vehicle market.
TSLA stock has encountered a lot of hurdles lately, mostly in the form of negative headlines. But through it all, the company is trading well today. Polestar, on the other hand, is down on a day when most EV stocks are up.
What this means
This scenario is reminiscent of an old proverb: if you want to hit the king, prepare to kill him. Well, Polestar just hit the king of the electric vehicle business, but it certainly didn’t kill it. And Musk has the final laugh as TSLA stock responds to the announcement by rising.
Finally, conquering Mars may not be the negative thing that Polestar seems to think. Last week, Musk detailed some future plans for SpaceX. In the past, major events at its sister rocket company have generated quite a bit of gratuitous buzz for TSLA shares, helping to lift them along with spacecraft.
Maybe Polestar will reinvent its advertising strategy for future Super Bowls or similar events.
At the date of publication, Samuel O’Brient held (neither directly nor indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.