The electric vehicle (EV) sector represents a transformative segment of the automotive industry. It is rapidly growing due to increasing environmental concerns and technological advancements. Companies in this sector range from established automakers introducing EV models to innovative startups focusing solely on electric mobility. This diversity contributes to the sector’s vibrancy and potential for long-term growth.
Investing in electric vehicle stocks offers exposure to a market poised for significant expansion in the coming years. However, like any investment, it carries risks, particularly due to the sector’s nascent stage and high competition. The fast-paced nature of technological innovation in this field adds another layer of complexity. Potential investors must consider these factors while evaluating opportunities in electric vehicle stocks.
A well-informed approach is crucial when delving into the electric vehicle market. Investors should conduct thorough research, understand market trends, and have a clear grasp of each company’s unique value proposition. With these steps, individuals can navigate the electric vehicle sector’s potential rewards and inherent challenges. Considering this, here are two EV stocks to check out in the stock market today.
Electric Vehicle Stocks To Buy [Or Avoid] Now
- Tesla Inc. (NASDAQ: TSLA)
- Ford Motor Company (NYSE: F)
Tesla (TSLA Stock)
Starting off, Tesla Inc. (TSLA) is an American electric vehicle and clean energy company. The company produces a variety of electric vehicles, ranging from luxury to more accessible options. They also offer energy storage and solar products.
This month, Tesla reported its third quarter 2023 financial results. In detail, the company announced Q3 2023 earnings of $0.64 per share, along with revenue of $23.35 billion. This came in below consensus estimates for the quarter, which were an EPS of $0.75 and revenue of $24.26 billion. Though, revenue did increase by 8.84% compared to the same period, the previous year.
Looking at the last six months of trading action, shares of Tesla stock have increased by 23.92%. Meanwhile, during Monday’s trading session, TSLA stock opened lower on the day so far by 3.26%, trading at $200.54 a share.
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Ford Motor Company (F Stock)
Next, Ford Motor Company (F) is one of the world’s oldest and largest automobile manufacturers. The company produces a variety of vehicles including cars, trucks, and commercial vehicles. In recent years, Ford has embraced the shift towards sustainable transportation, investing in electric and hybrid vehicle technologies.
Just last week, Ford Motor Company announced better-than-expected third-quarter 2023 financial results. In detail, the company posted Q3 2023 earnings per share of $0.39 on revenue of $43.80 billion. For context, this is versus Wall Street’s consensus estimates for the quarter which were earnings of $0.40 per share, and revenue estimates of $40.11 billion. Moreover, revenue advanced by 11.19% compared to the same period, the prior year.
However, in the last six months of trading, shares of Ford stock have pulled back by 19.28%. With that, during Monday morning’s trading session, F stock opened lower on the day so far by 2.26%, trading at $9.74 a share.
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