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Best EV Stocks To Buy Right Now? 4 In Focus

Could these EV stocks supercharge your portfolio right now?

Should Investors Be Watching These Top EV Stocks This Month?

While investors weigh out their options amidst conflicting information on the reopening trade, electric vehicle (EV) stocks remain relevant. After all, in times of uncertainty, investors would be looking towards long-term growth players in the stock market. In turn, some would argue that the EV industry fits this category now. This would be the case as EVs continue to gain market share against their combustion engine-based counterparts. By and large, the global green wave has and continues to fuel this trend moving forward. Given all of this, would it be a good time for investors to jump on the EV train now?

If anything, President Joe Biden appears more than just keen on transitioning the U.S. towards EVs. Back in May, the President said, “The future of the auto industry is electric. There’s no turning back.” Putting action to his words, the White House’s current infrastructure bill will see $174 billion heading towards the industry. For starters, this would see pure-play EV players like Lucid Motors (NYSE: CCIV) continue to gain traction in the stock market. Moreover, EV battery stocks such as QuantumScape Corporation (NYSE: QS) would also stand to benefit.

Aside from the current tailwinds, both companies are also hard at work bolstering their services now. On one hand, Lucid Motors is planning to start delivering its luxury EVs this year. On the other hand, QuantumScape entered into an agreement with Volkswagen Group of America earlier this year to select the location of their joint-venture solid-state battery pilot-line facility. The facility will initially be a 1-gigawatt hour battery cell commercial production plant. With no shortage of EV developments, it would make sense that EV stocks are on investors’ radars now. Could one of these EV stocks be top picks in the stock market today?

Best EV Stocks To Watch This Week

Fisker Inc.

Fisker is an EV company that is developing one of the most eco-friendly EVs on Earth. In addition to designing and developing EVs, the company has filed patents on solid-state battery technology for use in automotive and consumer electronics. Notably, the company has recently signed a long-term manufacturing agreement with Magna International (NYSE: MGA). Magna will help produce the highly anticipated Fisker Ocean SUV, projected to start on November 17, 2022. FSR stock currently trades at $15.39 as of 12:58 p.m. ET.

At the end of June, the company also provided a business update for its Fisker Ocean. It announced that it has taken another significant step forward towards the start of production for its Fisker Ocean SUV. This includes the official opening of several Fisker-dedicated operational areas at Magna’s world-class manufacturing facility in Austria. Key installations include manufacturing engineering, prototype production, and an onsite Fisker program office supporting prototype build phase kick-off. The company believes that it will be able to launch its SUV on time, and could very well be a game-changer in the EV industry. All things considered, will you add FSR stock to your watchlist?

Source: TD Ameritrade TOS

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Tesla Inc.

Tesla is a leading EV and clean energy company that is based in California. The company’s EVs are equipped with state-of-the-art charging infrastructure. Recently, Elon Musk confirmed that Tesla will be upgrading its Supercharger network from 250kW to 300kW max capacity to facilitate faster charging. The company’s extensive Supercharger network has already made it very convenient to stop and charge a car on a road trip, so this further increase in charging capacity could serve the company well in the long run. TSLA stock currently trades at $645.05 apiece as of 12:58 p.m. ET and has more than doubled in valuation in the last year.

Ahead of its second-quarter financials on July 26, 2021, how has the company been doing financially? For its latest quarter in April, the company reported that total revenue grew by 74% year-over-year at $10.38 billion. Tesla also posted a GAAP net income of $438 million and its non-GAAP net income surpassed $1 billion for the first time in the company’s history. Earlier in the month, the company also provided a vehicle production and deliveries update for its second quarter. Impressively, the company delivered over 200,000 vehicles. Given the exciting developments surrounding Tesla, will you watch TSLA stock?

Source: TD Ameritrade TOS

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ChargePoint Holdings Inc.

ChargePoint is an EV infrastructure company that is based in California. In essence, it operates one of the largest online networks of independently owned EV charging stations. The company boasts a strong leadership position in North America and continues to have a growing presence in Europe. CHPT stock currently trades at $23.47 as of 12:59 p.m. ET and is up by over 135% in the past year.

Last month, the company announced that it has partnered with Mercedes-Benz USA to power the EV charging experience here in the U.S. The new benchmark in EV charging, dubbed as Mercedes me Charge, will be launched with the all-new EQS all-electric luxury sedan and available in all EQ future mobility products from Mercedes-EQ. The company says that as the world transitions to electric mobility, software will play an important role in fuelling and ChargePoint will help bridge this gap for EV charging and Mercedes-EQ drivers. With that in mind, will you consider watching CHPT stock?

Source: TD Ameritrade TOS

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Ford Motor Company

Another major player in the current global EV race would be legacy automaker Ford. Like most legacy automobile giants today, the company continues to pivot towards EVs. In fact, it is looking to fully electrify its vehicle portfolio by 2025 using investments of over $30 billion. This would see fully electric versions of its Ford trucks, utility vehicles, and Lincoln brand luxury vehicles among others emerging over the next few years. To Ford’s benefit, its brands are already well-known among U.S. consumers. Ideally, this could appeal to customers looking to upgrade their current Ford automobiles to more environmentally friendly alternatives.

Now, F stock currently trades at $14.12 a share as of 12:59 p.m. ET after gaining over 60% year-to-date. Regardless, Ford does not seem to be resting on its laurels just yet. To begin with, the company acquired battery management and fleet monitoring software startup Electriphi, last month. According to Ford, this move could help it capture over $1 billion in revenue by 2030 via charging services alone. Moreover, the company’s Lincoln brand is expecting half of its sales to be EVs by 2026. Overall, it seems that Ford is aggressively working on building its reputation in the EV space. Could all this make F stock a top EV stock to watch for you now?

Source: TD Ameritrade TOS

By Josh Dylan

Josh Dylan is an active contributor to StockMarket.com. His forte is in geosocial events and emerging trends in the stock market today. As an active contributor to other financial outlets like MarijuanaStocks.com, his ability to study current events and determine the potential market reaction is what sets him apart from other writers.

After studying at UC Santa Cruz and earning a bachelor's of art and art history, Josh also went on to start his own business in art resale. Identifying underserved niches like this has allowed him to think outside the box when it comes to applying this approach to the stock market.

His new-age take on social media and branding gave Josh the foresight to apply certain lifestyle trends to market moving topics. This has included the recent trend in the cannabis industry and marijuana stocks as well as following emerging technology such as artificial learning and web-bots. Fundamentals are just as important as momentum in Josh’s opinion. Being able to understand how to apply popular trends to investing is of major importance. If the price of oil is sinking but the price of gold is following along, we want to understand why, not just follow the broader trend.

Josh Dylan makes it a point to not only mention what hot “today” but also find ways to apply that to find future opportunity in the stock market. What’s more is that Josh has become an active part in the StockMarket.com social media team. He works to delivery top research not only one StockMarket.com but also bring it to the readers, directly.

By studying the macro-economic events in the market, Josh makes sure to find events that could shift micro-economic trends. He prides himself on taking a unique approach to information but not taking things for “face value”. When it comes to the stock market, things can change at a moment’s notice and Josh makes sure to stay ahead of that with sound research and diligence. When Josh isn’t writing about the stock market, he enjoys spending time with his family and surfing. He currently calls Southern California his home.

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