Are These The Best EV Stocks To Invest In Right Now?
As investors lookout for the most active stocks today, electric vehicle (EV) stocks continue to hold the spotlight. By and large, this booming section of the stock market remains a highly intense one. After all, like it or not, EVs are likely the future of the automotive industry as a whole. Due to rising emissions and the growing threat of global warming, the shift to electric battery-based vehicles makes sense. As such, it would not surprise me to see investors eyeing the top EV stocks in the stock market today.
At the same time, there seems to be no shortage of exciting developments in the world of EVs as well. For today, we will be looking at the latest updates from Sony (NYSE: SONY) and Ford (NYSE: F). To begin with, Sony, yes you read that right, is making its way into the EV space. Namely, the Japanese entertainment goliath is looking to launch Sony Mobility. As the name suggests, this is a company that will lead Sony’s “possible entry” into the EV market. In detail, Sony is looking to leverage 5G tech alongside its entertainment prowess to turn mobility into an “entertainment space”. This would include the integration of top-quality sound and gaming systems for passengers.
On the flip side, automotive titan Ford is now looking to nearly double its EV manufacturing goals. Accordingly, this is the company’s means of keeping up with soaring consumer demand for its F-150 Lightning truck. As a result of all this, both SONY stock and F stock continue to trade around record levels. Having read this far, you might be keen on EV stocks yourself. In that case, here are three to watch now.
EV Stocks To Buy [Or Sell] This Week
First on this list, we have Nikola Corporation, an EV company that is globally reshaping the transportation industry. The company is a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles. It also designs EV drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure. NKLA stock currently trades at $10.07 as of 2:58 p.m. ET.
Investors are likely responding to news that the company posted today. In detail, USA Truck (NASDAQ: USAK) has entered into a Letter of Intent (LOI) for an initial purchase of 10 Nikola Tre BEV trucks from Thompson Truck Centers. Thompson Truck Centers is a member of the Nikola sales and service dealer network. The LOI between the two companies is a fleet-as-a-service model where Thompson will provide sales, service, maintenance, and the energy infrastructure required to operate the Nikola Tre BEV trucks. The company expects to deliver the trucks in the first half of 2022. Furthermore, the agreement will include an option to purchase an additional 90 Nikola zero-emission trucks over the next two years.
Last month, the company also signed a LOI with Heniff Transportation Systems to acquire 10 Nikola Tre BEV trucks. The trucks will also be delivered in the first half of 2022. Heniff is a family of companies recognized as a leader in liquid bulk transportation, rail transloading, ISO depot operations, tank cleaning, and related maintenance. Seeing how Nikola is on a roll with its sales, is NKLA stock worth investing in right now?
Tesla is a leader in the EV and clean energy company that designs and manufactures its line of electric cars and battery energy storage. It is one of the most valuable automakers in the world and the only automaker with a market cap of over $1 trillion. Through its subsidiary Tesla Energy, the company is also a major installer of photovoltaic systems in the U.S. TSLA stock currently trades at $1,109.81 as of 2:58 p.m. ET and is up by over 9% since the start of the year.
This comes after it announced record deliveries over the weekend. Diving in, Tesla had published its fourth-quarter vehicle production and deliveries report for 2021, and has beaten analysts’ expectations. It delivered 308,600 EVs in the fourth quarter of 2021, beating its previous single-quarter record. For the full year, Tesla delivered 936,172 vehicles, an 87% increase compared to a year ago. Following this impressive piece of news, analysts are now revising their estimates for Tesla’s fourth-quarter earnings.
The company has ramped up production in China even though competition rose last year. “They have beaten all the odds,” said Gene Munster, managing partner at venture capital firm Loup Ventures. “The first is the demand for their products is through the roof. And the second is they’re doing a great job of meeting that demand,” he added. Munster also says that he expects Tesla’s deliveries to grow to 1.3 million this year despite challenges in the supply chain. Given the excitement surrounding Tesla, is TSLA stock a buy today?
Last but not least, we will be taking a look at Fisker. In brief, this EV maker focuses on creating the most eco-friendly vehicles around. Because of this, its mission is to become a mobility service provider with “the world’s most sustainable vehicles”. Moreover, the company boasts an asset-light, direct-to-consumer operating model. The likes of which support recurring revenue, reduced cyclicality, and boasts a rapid path to production and profitability. As it stands, FSR stock is currently trading at $17.23 as of 2:59 p.m. ET.
Like most major consumer-related companies, Fisker is revealing its latest projects at the Consumer Electronics Show (CES) this year. Now, the company’s flagship Fisker Ocean electric SUV is on full display at CES. Among the key upcoming features in focus now would be Fisker’s cutting-edge Advanced Driver Assistance System (ADAS). To elaborate ADAS involves a collection of sensors working to ensure next-gen safety features for drivers and passengers. The likes of which include market-leading camera tech and sophisticated driver monitoring features.
All in all, the whole ADAS system will come as part of the Fisker Intelligent Pilot (FIP), a complete feature set. Furthermore, Fisker notes that the FIP will come with the $68,999 Fisker Ocean Extreme and Fisker Ocean One at launch. By the company’s estimates, this market-leading system will begin production in November 2022. Even with the system still being in the construction phase, we could be looking at exciting times ahead for Fisker. Would you say the same for FSR stock now?
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