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3 Top Battery Stocks To Watch Ahead Of Tesla’s Battery Day

Lithium ion batteries are benefiting from the explosive growth in the electric vehicle production.

Are These The Battery Stocks To Buy Amid EV Revolution?

The gradual shift toward electric vehicles has put battery stocks onto investors’ radar. Automotive companies with technology elements- the electric vehicle stocks are the market’s most loved stocks in the stock market today. With the strong surge in stock prices of Nio (NIO Stock Report) and Workhorse Group (WKHS Stock Report), investors have many reasons to be hopeful about the prospect of the industry. The most direct market response we can expect is that investors will search for the top EV stocks to buy. But electric vehicle manufacturers are also seeing increasing competition and stretched valuation. Investors are therefore turning into some of the “pick and shovel” play to ride along with the EV boom. For this reason, investors have been looking for top battery stocks to buy, because no matter who is leading the EV pack, they will still need batteries.

After all, the shift toward clean energy vehicles is part of the evolution of the automotive market. The significant driver of the high demand for electric vehicles in China, the United States, and globally are making EV stocks at the forefront of gains. As a result, investors who seek to consider a new avenue for investments in the future can also look into the global automotive battery market.

Battery Stocks Could Be The New Gainer Amid EV Revolution

The sale of electric vehicles may not outrun that of conventional combustion engines any time soon. But the truth is, we are increasingly seeing the shift towards EV due to environmental and sustainability reasons. The demand for lower emissions to combat global warming is getting more traction. In addition, more consumers are turning to vehicles that are fossil-fuel-free that would have no emission.

More importantly, the growing cost-effectiveness of lithium-ion batteries is a major driver contributing to the rise of electric vehicles on the road. The improvement in battery tech and lower costs contributed to the rise of EV. Now, batteries are slowly entering the minds of investors. With that in mind, do you have this list of battery stocks to buy during the last quarter of 2020?

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Top Battery Stocks To Watch In 2020: Tesla

Alright, call me a cheater for including Tesla (TSLA Stock Report) on this list. Tesla is not exactly a battery company. The largest EV manufacturer Tesla has set a date for its battery technology day. The event will be taking place on 22nd September 2020 in California. This is a huge deal for investors to learn more about EV technology and how it could affect their profit margins in the long run.

Informally, Tesla has the best battery technology in the auto industry. No doubt, Battery Day is going to be huge and will be heavily scrutinized by Tesla bears. Essentially, it will be a way to show those who have a large amount of cash wrapped up in Tesla that the company is putting that capital to good use. Tesla will probably be using this event to show off the latest iteration of its battery technology.

It would not be surprising if Tesla wants to demonstrate its superiority against its growing list of EV competitors. During the event, investors will likely be excited to see Musk tout the efficiency of Tesla’s battery packs and for the company to talk about the one million mile battery. If investors are convinced with the ideas and hopeful with the execution, it’s not surprising to see another breakout in TSLA stock.

Top Battery Stocks To Watch In 2020: Panasonic Corporation

Panasonic Corporation (PCRFY Stock Report) is a household name that’s been around for as long we all can remember. While the company’s stock performance hasn’t been performing well for the past two years, not all hope is lost. Apart from providing automotive batteries to Tesla, Panasonic is also partnering with Toyota (TM Stock Report) to supply batteries for its electric vehicles. So with tens of thousands of homes potentially implementing a smart home, the partnership is a natural extension.

Last year, both Toyota and Panasonic formed a joint venture for the manufacture of EV batteries. This comes after Panasonic targets to increase its battery capacity by 50 times from what is used in current Toyota hybrid vehicles.

Reports said Mazda, Subaru, and Daihatsu will also be sourcing batteries from this joint venture. Honda already uses Panasonic batteries and it is likely to gain from improved efficiency as a result of this venture. With the list of carmakers on board, would you include PCRFY stock for high powered gains as demand for EV soars?

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Top Battery Stocks To Watch In 2020: Enphase Energy

Enphase Energy (ENPH Stock Report) is a leading supplier of solar power system solutions. Enphase’s main business is manufacturing and supplying microinverters, the devices that convert power at the solar panel into the AC power used at home.

The acquisition of SunPower’s microinverter business has served as a catalyst for its stock. From this acquisition, the company proved that it could achieve high margins alongside growing sales, which makes it one of the best battery stocks to watch in the long term.

ENPH stock recently rose to its 52-week high. This came after the company reported strong quarterly results. It has been on a tear ever since. It went from around $5 in early 2019 to nearly $75 now, even after the sell-off in March 2020. Enphase continued to grow revenue despite dealing with component shortages. This suggests that revenue growth would be even higher with the resolution of supply issues after the pandemic. This signals that the company has a long growth runway ahead. That said, is ENPH attractive enough to be included in your watchlist today?

By Joe Samuel

Joe Samuel is a dedicated stock market researcher and financial contributor. His love for the stock market started at a young age learning from his grandfather. Joe earned a bachelor of science degree in corporate finance and business management. After finishing college, he went the route of an entrepreneur starting numerous businesses and eventually became a financial contributor to a number of outlets including Seeking Alpha, Invesitng.com, and actively contributes to FactSet. At StockMarket.com, Joe looks for emerging stories. One of his traits is identifying new trends before they become mainstream. Whether it’s a biopharmaceutical company debuting a novel treatment or the next technology start-up developing a new platform, Joe looks to be on the cutting edge of that trend.

After years of living in New York, he made the move to Miami, Florida where he’s become an active member of the finance community. Joe has worked with early-stage companies in marketing and consulting capacities, which has given him an opportunity to see what makes companies tick. His viewpoint is that while corporate news is vital to any investment, it’s what isn’t “right in front of you” that can make a good investment great. His approach to the markets is one that aims to deliver information that might not be well-known. But through deep research and diligence, Joe has written about and been able to uncover time-sensitive information when seconds matter in the stock market today.

Joe enjoys covering several stock market sectors. These include commodities, finance, biotechnology, and technology; specifically AI & machine learning. His no-nonsense approach to the market gives readers a cut and dry view of the news that matters most and topics beginning to emerge as new trends in the stock market. He was early to the table with calls on things like the last gold rush in 2019 and has been able to identify influential events and how they could impact certain industries.

During his free time, he enjoys spending time with his family and polishing up one new stock market trends. He’s also an avid car enthusiast with a passion for classic and muscle cars.