4 electric vehicle stocks to watch today

0

4 best electric vehicle stocks to add to your watchlist right now

As the stock market looks to recover from yesterday’s losses, electric vehicle (EV) stocks continue to grab the headlines. It seems to be the case across the board, from the biggest players in the space to names to come. Namely, it would be in reference to You’re here (NASDAQ: TSLA) and Rivien (NASDAQ: RIVN) this week. For starters, TSLA stock is the center of attention thanks to CEO Elon Musk’s announcement to sell roughly $ 5 billion of his holdings. While the move might seem negative at first glance, Musk is doing it primarily to meet his tax obligations. On the contrary, things seem to be speeding up operationally for Tesla now. Last month, the company announced that its vehicle sales in China were almost half of its sales in the United States.

At the same time, we also have Rivian, a newcomer to EV stock trading. The electric truck maker went public yesterday via an initial public offering (IPO). RIVN stock has gained 29% throughout intraday trading at $ 100.74 apiece, valuing Rivian at $ 86 billion at yesterday’s closing bell. Not to mention that the company is also looking to expand its electric vehicle fleet business beyond its key customer. Amazon (NASDAQ: AMZN). Before going public, Rivian also announced plans to open orders for its electric vehicles to consumers.

Overall, the electric vehicle industry seems to be moving at breakneck speed now. What’s more, with President Joe Biden set to sign the $ 1 trillion infrastructure bill on Monday, even electric vehicle recharging and battery stocks could gain traction. With that said, here are three top EVs to consider in the stock market today.

Best EV stocks to buy [Or Sell] This week

Ford Motor Company

To start with, we have a multinational car manufacturer Ford Motor Company. Its Ford + plan for growth and value creation combines existing strengths as the company carries out its electrification work. Impressively, the company expects 40% of its global Ford vehicle volume to be fully electric by 2030 and has increased planned electrification spending to over $ 30 billion by 2025. That would include the development of its exclusive IonBoost batteries. F stock has posted gains of over 120% since the start of the year.

On Wednesday, the company announced that, with researchers at Purdue University, it had taken an important step towards making charging electric vehicles easier and faster. Through a research alliance, researchers from both groups are working on the development of a new, patent-pending charging station cable that could be combined with vehicle charging technology under development. This could lead to recharging your EV as quickly as refueling. The researchers also plan to start testing a prototype charging cable over the next two years to determine more specific charging speeds for certain electric vehicle models. Considering the prospects that could arise from this partnership, should you consider investing in F-share?

Source: TD Ameritrade CGU

[Read More] 4 robotics stocks to watch out for amid the growing shifts towards automation

QuantumScape Company

then, we have QuantumScape, a leader in the development of next-generation lithium-metal solid-state batteries for electric vehicles. In fact, it’s one of the only lithium-metal solid-state battery companies to have been validated by automotive OEMs. It recently announced that it has subjected its monolayer cells to testing by an independent third-party lab and has just reported that these tests replicate the impressive performance it first revealed at the end of last year. QS stock has grown over 140% in the past year alone.

Developing his letter to shareholders regarding his third-party testing, he showed that his battery technology can deliver excellent life (800 cycles to better than 80%) at high charge / discharge rates without dendrite formation. Testing was performed by Mobile Power Solutions, an independent, ANAB-accredited battery lab under ISO / IEC 17025: 2017, based in Beaverton, Oregon. The company also announced an agreement with another of the world’s top 10 automakers alongside its existing partnership with Volkswagen. This could indicate that more auto companies believe in QuantumScape technology. In light of this exciting news, should you add QS stock to your portfolio now?

QS NYSESource: TD Ameritrade CGU

[Read More] 4 semiconductor stocks to watch right now

Albemarle Company

Albemarle Company is a company that has 3 manufacturing divisions, specializing in lithium, bromine and catalysts. It is one of the largest suppliers of lithium for electric vehicle batteries and also fuels business potential in many of the world’s largest and most critical industries. It could range from energy and communications to electronics and transportation. The company’s shares have also more than doubled in the past year. Last week, the company released its third quarter financial results.

First, the company reported net sales of $ 830.6 million, an 11% year-over-year increase. This despite supply chain challenges and rising raw material costs. Second, it posted adjusted diluted earnings per share of $ 1.05 for the quarter and increased its guidance for fiscal 2021 based on this strong third quarter. In addition, the company announced strategic investment agreements in China with plans to build two lithium hydroxide conversion plants, each initially targeting 50,000 mtpy. With this impressive quarter, will you see ALB stock as a buy?

NYSE ALBSource: TD Ameritrade CGU

[Read More] 5 metaverse actions to watch in November 2021

General Motors Company

Another name to consider among EV stocks now would be General Motors (GM). As most seasoned auto investors know, GM is today a titan in the automotive world. This is evident given the popularity of its extensive portfolio of vehicles. These include, among others, its Chevrolet, Buick and Cadillac divisions. Like its traditional auto-maker peers, GM is increasingly focusing on electric vehicles. As it stands, GM shares have annual gains of over 45%.

On the one hand, the company seems to be shifting into high gear now. Just this week, GM provided two important updates. For starters, there would be a “better semiconductor flowaccording to a GM spokesperson. For this reason, the company’s North American assembly plants are once again operating at regular capacity. In addition, the company is also restarting vehicle production at its Oshawa assembly plant, a first since it closed at the end of 2019. GM cites strong demand for its pickup trucks as a primary reason for the move. Given that GM is currently focused on building its manufacturing capacity, could GM stock be a buy for you?

NYSE DGSource: TD Ameritrade CGU

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


Source link

Leave A Reply

Your email address will not be published.