Search a ticker

Categories
Energy Stocks Featured Investing Stock Market Today Stocks to Watch

4 EV Charging Stocks For Your Mid-July 2022 Watchlist

Are these EV Charging Stocks worth checking out this week?

EV charging stocks

Should Investors Be Buying These Top EV Charging Stocks Right Now?

Although electric vehicle (EV) stocks have seen better days, it is undeniable that there is a global push toward the adoption of EVs. Automakers from all over the world are electrifying their offerings, and governments are granting a slew of incentives. However, for EVs to truly take off into the mainstream, there needs to be a proper EV charging infrastructure in place. Because of this, EV charging stocks could be a key investment theme this decade. Therefore, I could see why investors may be looking to buy the best EV charging stocks while they’re cheap. 

On Thursday, it was reported that Ford (NYSE: F) and South Korean battery maker SK On Co. have finalized their joint venture (JV). For those unaware, the two had signed a memorandum of understanding to set up a JV here in the U.S. The JV, named BlueOval SK LLC, will be setting up a battery plant for EVs in Tennessee and two other facilities in Kentucky. Accordingly, BlueOval SK is expected to generate 60-gigawatt hours of power annually, with the potential of being raised further. Given this development, here are the best EV charging stocks to check out in the stock market today. 

EV Charging Stocks To Buy [Or Sell] Today

EVgo

Starting us off today is EVgo. The company claims to have the largest public fast-charging network in the U.S. Furthermore, it uses 100% renewable energy to power its charging stations. The company has over 850 fast-charging locations that serve over 60 metropolitan areas across 30 states. On top of that, the company says that more than 130 million people in the U.S live within a 10-mile drive of an EVgo fast charger. Impressively, the company’s charging stations boast a charge time of between 15 to 45 minutes. Over the past week, EVGO stock has risen by about 13%.

On Thursday, General Motors (NYSE: GM) announced that it will be building a new network of EV fast chargers in partnership with Pilot Co. and EVgo. For those unfamiliar, Pilot Co. is the owner of the Pilot and Flying J highway travel centers. To be precise, the companies will install a total of 2,000 fast chargers at 500 of Pilot’s locations. The chargers will be posted along American highways at intervals of approximately 50 miles. The partners also expect to have a significant portion of the charges up and running by the end of 2023. Given this collaboration, should you invest in EVGO stock?

[Read More] Most Active Stocks To Buy Today? 4 Metaverse Stocks To Watch

Wallbox NV

Another notable EV charging stock worth watching is Wallbox. In short, it is a company that creates EV charging and energy management systems. These essentially enable users to control their power consumption and save money. Its main product is the Pulsar Plus, which is a compact yet powerful and fast EV charger at home. The company also offers a vast portfolio of charging and energy management solutions for residential, semi-public, and public use in more than 80 countries.

Earlier this week, Wallbox announced a new partnership with Svea Solar. For those unfamiliar, Svea Solar is one of Europe’s fastest-growing cleantech companies and Sweden’s largest solar energy company. Notably, Wallbox will be the main EV-charging solution for Svea Solar’s consumer offerings in Sweden, the Netherlands, Belgium, Germany, and Spain. Interestingly, Svea Solar is a partner to IKEA in four European markets, offering solar systems to residential customers. By extension, this would likely expose Wallbox to a broader market of customers. Wallbox products will be sold alongside Svea Solar’s solar offering to complement its users’ home energy needs and empower more people to switch to EVs. As such, should you invest in WBX stock?

ChargePoint

Following that, we have ChargePoint. For those unfamiliar, this is a company that develops and markets networked EV charging system infrastructure while providing cloud-based services. As part of its networked charging systems, it provides an open platform that integrates with system hardware from various EV companies and manufacturers. Hence, it can provide real-time information about charging sessions. And like many other stocks in the market, CHPT stock has tumbled more than 50% over the past year. Could this be a good time to buy the dip?

Last month, the company announced a new partnership with the National Electrical Contractors Association (NECA). Through this partnership, the two will be working together to accelerate the deployment of EV charging. Specifically, ChargePoint and NECA will be developing training programs for its electrical contractor members who install EV charging infrastructure. “Through this collaboration, we are connecting our technical experts with NECA’s network of thousands of electrical contractors, who are key partners that ensure connected, software-enabled charging solutions are installed proficiently in communities across the country,” said Anthony Harrison, senior director of North American policy for ChargePoint. With that being said, is CHPT stock worth adding to your watchlist?

Last, but not least, we have Blink Charging. In essence, it is a company that provides EV charging equipment and charging services. Blink’s principal line of products and services includes its Blink Network and EV supply equipment. For a sense of scale, the company currently operates over 30,000 charging ports across 18 countries. In addition, its charging stations are linked via its global network, allowing users to conveniently charge at any of its locations worldwide. Over the past month, BLNK stock has gained over 15% in price.

In June, the company announced that it has closed its acquisition of SemaConnect. For those unfamiliar, SemaConnect is a leading provider of EV charging infrastructure solutions in North America. This $200 million transaction will add nearly 13,000 EV chargers, 3,800 site host locations, and more than 150,000 registered EV driver members to its network. Through this strategic acquisition, Blink will be the only EV charging company to offer complete vertical integration from R&D and manufacturing to EV charger ownership and operations. Given this news, would you invest in BLNK stock?

If you enjoyed this article and you’re interested in learning how to trade so you can have the best chance to profit consistently then you need to checkout this YouTube channel. CLICK HERE RIGHT NOW!!

By Jonathan Phillip

Jonathan Phillip is an up and coming financial contributor in the stock market today. He's found a strong niche in writing about true growth industries. His main focus for the last 5 years has been on the cannabis industry and marijuana stocks. He is one of the top contributors to cannabis media outlets like MarijuanaStocks.com. He also is head of social media management for StockMarket.com.

Since an early age, Jonathan has been an active member of the cannabis culture. Coming from Miami, Florida, he's been able to identify emerging trends in the space including the emergence of cannabis derivatives, vapes, e-liquids, wax, and more. His ability to identify emerging niches has afforded him the ability to source valuable information from top industry names.

Jonathan has also managed to build a strong social media presence for companies. He has worked with hundreds of public companies to develop a digital presence. As an active blogger and social media influencer, his focus is on lifestyle segments of the market. You can find Jonathan reporting on anything from industry conferences and investor events to corporate disclosures and cannabis market movers.

Since the early days of marijuana companies going public, Jonathan has made it a point to find information before the crowd. The main target of his writing is on undiscovered or under-researched companies that could hold true, lasting market potential. Through his research, Jonathan has managed to be one of the early writers to identify the opportunity of cannabis over other things like alcohol and he was one of the first reporters to cover the multi-billion dollar deals that materialized in 2017 and 2018. He has also covered the emergence of multi-state operators in the U.S. after Canada paved the way in late 2018 and 2019 for legalization in North America.

Jonathan is also an active member of the underground hip-hop scene. He has worked with some of the biggest names in the rap community while also gaining valuable insight from top producers and business moguls focused on moving brands forward. In his free time, Jonathan builds social communities and continues to hone his skills as a leading financial writer.

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments