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Best Stocks To Invest In Right Now? 2 EV Stocks For Your September List

EV stocks to watch in the stock market this week.

best stocks to invest in right now ev stocks

The electric vehicle (EV) sector represents a dynamic and transformative facet of the global automotive industry. As concerns over environmental sustainability and rising fossil fuel costs drive a global push towards cleaner transportation options, electric vehicles have emerged as a compelling solution. From sedans and SUVs to trucks and commercial vehicles, electrification is steadily reshaping the transportation landscape. Promising reduced greenhouse gas emissions and a decreased dependency on oil.

Investing in EV stocks offers exposure to a rapidly growing segment of the auto market. Traditional automakers are pivoting towards electrification and a surge of new entrants aiming to capture market share. In turn, the competition is intense but the potential rewards are substantial. The rise of EVs isn’t just about cars; it encompasses an entire ecosystem, including battery manufacturers, charging infrastructure providers, and software developers focused on autonomous driving and connectivity.

For investors intrigued by the EV space, it’s vital to consider both the opportunities and the challenges. The industry’s growth trajectory suggests significant potential, but the path to widespread adoption isn’t without obstacles. Factors such as evolving regulatory environments, technological advancements, and infrastructure development will play pivotal roles in shaping the future of the sector. All things considered, here are two electric vehicle stocks to check out in the stock market this month.

EV Stocks To Watch Right Now

Tesla (TSLA Stock)

Starting off, Tesla Inc. (TSLA) is a prominent global leader in the electric vehicle industry, not just manufacturing cars, but also pushing forward advancements in sustainable energy solutions.

In July, Tesla unveiled its second-quarter financial results for 2023, surpassing many analysts’ projections. The electric car giant recorded earnings of $0.91 per share, alongside a revenue totaling $24.93 billion. This is compared to analyst expectations, which anticipated earnings of $0.82 per share and revenue of $24.53 billion. Additionally, there was a significant 47.20% rise in revenue when compared to the same timeframe the prior year.

Meanwhile, during Monday morning’s trading session, shares of TSLA stock opened up 6.62% on the day so far trading at $264.95 a share. This surge stems from an optimistic look at its Dojo supercomputer.

Source: TD Ameritrade TOS

[Read More] Best Trending Stocks To Buy Now? 3 AI Stocks To Know

General Motors Company (GM Stock)

Next, General Motors Company (GM) is a key participant in the automobile sector. The company offers a diverse range of cars, trucks, and electric models. Given its extensive history in the industry and efforts towards electric vehicle development, GM is navigating the evolving landscape of the electric vehicle market.

Back in July, General Motors also reported its second quarter 2023 financial results. Diving in, the company reported earnings of $1.91 per share, with revenue of $44.75 billion for the second quarter. This was versus Wall Street’s consensus estimates which were earnings per share of $1.73 on revenue of $41.98 billion. Moreover, revenue increased by 25.13% compared to the same period, the previous year.

Continuing on, Monday morning shares of GM stock are trading modestly lower off the opening bell by 0.67% at $32.73 a share.

Source: TD Ameritrade TOS

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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.

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