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Best Cheap Stocks To Buy Now? 2 EV Stocks To Watch

Are these the best EV stocks to invest in at their current price levels?

best cheap stocks to buy right now

To initiate, electric vehicle (EV) stocks have been gaining traction in recent years as the push for clean energy and sustainable transportation continues to grow. As a result, retail investors are increasingly looking to invest in EV manufacturers. EV stocks can be a smart move for investors as the global demand for electric vehicles is expected to continue to rise.

According to a report by BloombergNEF, electric cars are projected to make up 54% of new light-duty car sales by 2040. This shift in the market presents a significant opportunity for EV manufacturers, and subsequently, for investors in their stocks. Additionally, governments around the world are also taking steps to phase out internal combustion engines and promote electric vehicles, which further supports the growth of the EV industry.

The shift to electric vehicles can help reduce dependence on fossil fuels and decrease carbon emissions, which aligns with the goals of many socially responsible investors. Overall, EV stocks can provide a strong potential for returns, as well as align with investors’ values. Bearing that in mind, check out these two EV stocks in the stock market right now.

EV Stocks To Buy [Or Avoid] Now

Tesla (TSLA Stock)

To begin, Tesla Inc. (TSLA) is an American multinational corporation that specializes in electric vehicles, energy storage, and solar panel manufacturing based on integrated energy systems. Tesla designs and manufactures electric cars, battery energy storage from home to grid-scale, and, solar products.

On Wednesday after the market close, Tesla reported its Q4 and full-year 2022 financial results. Diving in, Tesla reported a beat with 4th quarter 2022 earnings of $1.19 per share on revenue of $24.3 billion. This beat the consensus estimates of $1.13 per share on revenue of $26.2 billion. Additionally, the company’s revenue saw a 37.2% increase compared to the same quarter in the previous year.

Additionally, shares of TSLA stock have bounced 33.61% since the start of 2023. Though, over the last year of trading TSLA stock is down 53.78%. Meanwhile, as of Wednesday’s closing bell, Tesla stock closed the day at $144.43 per share.

Source: TD Ameritrade TOS

[Read More] 3 Dow 30 Stocks To Watch In January 2023

Ford Motor Company (F Stock)

Next, Ford Motor Company (F) is an American multinational automaker that has been in business for over 100 years. The company has been increasingly investing in electric and hybrid vehicles and has announced plans to have all-electric vehicles make up the majority of its sales by 2030.

Earlier this month, Ford announced it has set a new record for sales of electric vehicles, selling 61,575 units in the year and seeing a 126% increase in sales compared to the previous year. Additionally, Ford’s EV sales in December saw a 223% increase. This makes Ford the second-largest EV automaker in America.

Over the last year of trading, shares of Ford stock have dropped by 35.76%. Though, since the beginning of January, F stock has started to recover by 9.50%. As of Wednesday’s closing bell, shares of Ford stock are trading at $12.79 a share.

Source: TD Ameritrade TOS

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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.

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