As the world makes way for the EV revolution, manufacturers of these vehicles are not the only ones that are interested in seeing them flourish.
Rather, when it comes to fixing a public company’s overall performance, the stakes are high for thousands of people who have invested their money in these companies.
This is why today we mention 4 hot EV stocks that you must keep an eye on. This will not only allow you to get an insight into the segment but if done correctly, you can make a lot of money from the stocks of these companies.
What Determines How A Company’s Stocks Are Doing?
The first and most important feature of a company experiencing a rise in its stock prices is that the company must have a strong track record of growth.
In addition to this, the stock must exhibit a bullish pattern, indicating a likelihood of future price increases.
However, most of the EV companies are presently offering shares that don’t have either of the above two features.
This is mainly because not many of these companies have been operating for a long time and some of them are yet to deliver their first consignments.
Tesla Stock
Tesla is the largest automaker in terms of volume and market capitalization and has a good potential in the segment of stocks as well.
For now, the Tesla stock is dipping and presently sits a fraction below the 10-week average.
However, still, it is performing pretty well in the long run and for a long term investment, Tesla Stock is a great option because the price will rise once the Cyber Truck is launched by the end of this year.
Tesla (TSLA) stock price right now is $800.77.
Li Auto Stock
The Li Auto stock is presently trading under the 40-week average but as the company’s Li One SUV is in high demand with more than 136,356 units sold since its launch, the company is expected to perform well in the times to come. Li Auto (LI) stock price is worth $109.5.
BYD
BYD is listed in Hong Kong and is traded over the counter in the United States but the fear of Chinese companies being delisted from the US exchanges is one of the reasons that many US investors have shown reluctance in buying its shares.
However, the company is performing well, particularly in China and with major profits coming in the next few years, BYD is likely to generate a lot of fruit for its stock owners. The stock (BYDDF) price is $247.84.
XPeng
With backup from Alibaba, XPeng is a great company. It has already offered two electric vehicles that are performing relatively well in the market.
This is why despite the current relatively low-performance figures, the stock of XPeng is likely to see healthy growth in the years to come. XPeng (XPEV) is now worth $34.56.
Final Verdict
Most EV stocks are presenting trading below the 10 and 40-week averages. In addition to this, the semiconductor chip shortage has also tarnished the image of such stocks because the automakers have been badly hit.
However, as the future belongs to EVs, this is the best time to make the most out of the dip and invest in the domain for the long term.
The stock value reflects the situation as of February 25th, 2022.
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