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3 EV Stocks To Watch Today

Can these EV stocks bring you shocking gains amidst the current weakness in markets?

stocks to watch today (electric vehicle stocks)

Should Investors Be Buying These Top EV Stocks Today?

While investors consider what stocks to watch today, electric vehicle (EV) stocks continue to gain attention in the stock market. Namely, while the world refocuses on the pandemic with a new variant on the loose, EVs remain relevant. Sure, the pandemic may be a more apparent issue now. However, like it or not, EVs are a likely solution to the long-term problem of climate change. In turn, this is when the top EV stocks in the market come into play.

For starters, we could take a look at the likes of Li Auto (NASDAQ: LI) and Ford (NYSE: F). Li Auto recently posted solid figures in its latest quarterly earnings report. In it, the company tripled its total revenues year-over-year while also beating Wall Street’s earnings estimates by a fair amount. At the same time, Ford is currently working with chip giant GlobalFoundries (NASDAQ: GFS) to strengthen its vehicle chip supply. Through this alliance, Ford seems to have plans to increase both its short- and long-term supply. Additionally, there are also ongoing talks about Ford-specific chips being designed in the long run as well. According to Ford VP of vehicle embedded software and controls, Chuck Gray, Ford is working to “reimagine” its supply chain.

Not to mention, even Japanese automotive titan Nissan is getting in on the action. As of yesterday, the firm is planning to invest about $17.6 billion towards electrifying its product line. By and large, the EV industry today remains as active as ever. With pandemic pressures weighing in on the stock market today, could these EV stocks be worth watching?

3 Top EV Stocks To Invest In [Or Sell] Right Now

Fisker Inc.

First up, we have Fisker, an EV company that is developing what could be the most eco-friendly EV on the planet. The company says that it is passionately driven by a vision of a clean future for all and is on a mission to become the No. 1 e-mobility service provider with the world’s most sustainable vehicles. The company has an asset-light, direct-to-consumer operating model that supports recurring revenue, reduced cyclicality, and boasts a rapid path to production and profitability. FSR stock has enjoyed year-to-date gains of over 40%.

On November 17, the company announced its production-intent version of the Fisker Ocean. It staged a global reveal of its Fisker Ocean all-electric SUV on the first media day at the 2021 Los Angeles Auto Show. It also announced the prices for its lineup of Ocean EVs. The all-wheel-drive Fisker Ocean Ultra is priced at $49,999 while the Fisker Ocean Ultra is priced at $68,999. It will also feature Fisker’s proprietary Advanced Driver Assist System, Fisker Intelligent Pilot that is built to enhance driver protection, safety, and comfort.

Furthermore, the Fisker Ocean will have a set of technologies that enable owners to recharge other EVs, send power to the electrical grid, and use their vehicles as a backup source of emergency power for their homes. The company calls these technologies PowerCar, Power Grid, and PowerHouse. Also, it will be available to purchase at the end of 2022. Given this exciting piece of news, is FSR stock a top EV stock to invest in right now?

Source: TD Ameritrade TOS

[Read More] 4 Artificial Intelligence Stocks To Watch Right Now

Tesla Inc.

Following that, we have Tesla, an EV, and clean energy company. The company is one of the most valuable companies in the world and also one of the most valuable automakers in the world with a market cap of over $1 trillion, making it the sixth company to do so in U.S. history. Its Tesla Model 3 is its all-time best-selling car worldwide and became the first electric car to sell 1 million units globally. TSLA stock has doubled in valuation in the past year itself.

Last Friday, CEO Elon Musk urged its employees to focus on minimizing the cost of deliveries instead of rushing orders out last minute to hit its end-of-quarter sales targets. Furthermore, the company has also been reportedly moving closer to starting production at its first European factory in Brandenburg, Germany. As Tesla continues to grow in sales, it would make sense to continue this momentum in Europe. The company intends to start production of vehicles by the early summer of 2022 in Germany.

Last month, the company also reported its third-quarter financials. In it, Tesla said that it has achieved its best-ever net income. Total revenue for the quarter was $13.75 billion, increasing by 57% year-over-year. Net income for the quarter was $1.61 billion or a diluted earnings per share of $1.44. The company also ended the quarter with $16.06 billion in cash and cash equivalents. All things considered, is TSLA stock worth adding to your portfolio?

Source: TD Ameritrade TOS

[Read More] Best Lithium Battery Stocks To Buy Now? 4 To Know

Nio Inc.

Another name to consider in the EV space now would be Nio. As one of the biggest players in the booming Chinese EV market, I can understand if investors are considering NIO stock now. Overall, Nio specializes in designing and developing premium smart EVs and providing related services. The likes of which boast a slew of cutting-edge software and hardware offerings ranging from autonomous driving to battery swapping solutions.

Speaking of the latter, Nio is now working with Royal Dutch Shell (NYSE: RDS.A) to expand its battery-swapping operations. To highlight, the duo are jointly constructing and operating a network of battery charging and swapping facilities in China. By 2025, the plan is to install 100 such battery swapping stations across the nation where Nio primarily operates. Furthermore, there are also mentions of pilot stations being constructed in Europe in 2022.

All in all, this is a smart play by Nio as it seeks to solidify its market presence across the board. To begin with, the company’s battery swapping service reduces the wait time for EV owners looking to charge their cars. While the premise is simple, it does offer a more convenient means of recharging. Now, with the backing of an energy goliath like Shell, Nio could, in theory, accelerate growth on this front. Given Nio’s current momentum, would you consider NIO stock a top buy?

Source: TD Ameritrade TOS

By Brett David

Brett David is a digital marketing and finance professional for nearly 10 years now and a contributing author for StockMarket.com. His passion for digital marketing and the stock market began after graduating with a B.S.B.A in business administration and finance. After completing college, he went on to becoming an entrepreneur in the marketing and finance space, which led to becoming a contributor to outlets such as ThriveGlobal.com, MarijuanaStocks.com, MarketingAgency.com and SearchEngineWatch.com.

Brett loves the ability to deliver to his readers engaging and educational content that can be easily consumed by the reader. He enjoys writing about a wide variety of companies ranging from blue-chip stocks to the undervalued small and micro cap stocks. His favorite stock market sectors today to write about are: Tech, Cannabis, Mining, Biotech, and TMT.

Brett has worked with hundreds of publicly traded companies on increasing their digital footprint and corporate outreach since 2013.

You can find Brett most of time digging through corporate filings conducting fundamental analysis or at an industry conference looking for the next big trend or company to hit the street. His digital marketing experience gives a competitive edge over other contributing authors by allowing him to see and analyze trends faster than the next person.

Brett, a South Florida native, enjoys spending time with his wife and son outdoors, and is an avid basketball and MMA fan.

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