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Are These 2 Automotive Stocks Driving Investors’ Portfolios Higher In 2020?

Are These The Top Automotive Stocks To Buy In 2020?

automotive stocks to buy

Are These Automotive Stocks On Your 2020 Watchlist?

Automotive stocks have been a struggling sector of the market since the pandemic started. Car sales fell and dealerships were forced to close. In addition to this, many people are struggling to earn money at the moment. This means that not all people have the opportunity to purchase a car. The state of the economy badly affected all types of automotive companies.

It seems like things could be turning around for top automotive stocks though. Many automotive companies are reporting an increase in vehicle sales. If vehicle sales continue to rise up then many automotive stocks will rise with them. Automotive production will speed up if sales begin to increase once again. In time automotive stocks will increase when the world reaches a normal state again. But this is not a reality that seems to be soon.

While the market for best automotive stocks to watch is volatile there is still room to make a profit. Some automotive stocks related to recreational vehicles are gaining. This could be the same for construction vehicles as well. Since people are just sitting around, jet skis, ATVs, dirt bikes, and more are being purchased by consumers. And it is the perfect time for construction companies to operate without interference since less people are out. Let us look at two automotive stocks that have been trending upwards in the market.

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Top Automotive Stocks To Buy [Or Sell] In 2020: BRP, Inc.

The first automotive stock to watch is BRP Inc. (DOOO Stock Report) due to its upcoming earnings reports. BRP Inc., which stands for Bombardier Recreational Products Inc., is a Canadian automotive company. The company produces many different types of vehicles. BRP produces snowmobiles, ATVs, jet skis, motorcycles, and more. Some of the company’s products include Ski-Doo, Can-Am, Lynx, Rotax, and many more. In 2019, BRP produced $5 billion Canadian dollars in revenue.

BRP has earnings reports coming rather soon. Investors seem to have high hopes for these reports. On August 11, DOOO stock was at $42.84 a share on average. When August 12th came around, DOOO stock rose to $46.59 a share. This rise in DOOO stock price is because of rumors of good reports coming from BRP. DOOO stock price was at $56 before the pandemic, so it has not quite recovered yet.

With that being said, it seems like if earnings reports from BRP are positive then DOOO stock could rise. The world of recreational vehicles seems to be on the rise during these dark times. People have more time to ride fun vehicles during the pandemic. That very reason is why DOOO stock is on this list of potential automotive stocks to buy.

[Read More] Are These The Top Tech Stocks To Watch In 2020?

Top Automotive Stocks To Buy [Or Sell] In 2020: Fiat Chrysler

The next automotive stock to watch is Fiat Chrysler Automobiles N.V. (FCAU Stock Report). Fiat Chrysler is an automotive company that produces a variety of different vehicles. Some of its companies include Chrysler, Dodge, Alfa Romeo, Jeep, Maserati, Fiat, and many more. That is why it has become one of the largest automotive companies in the world. In 2019, Fiat Chrysler’s revenue was € 108 billion euros.

FCAU stock was at $13 a share on average before the pandemic started. In March FCAU stock price fell as low as $6.35 a share on average. This was bad for investors of FCAU stock. Since then, FCAU stock price has been on the rise. As of August 12th, FCAU stock reached $11.66 a share. That places FCAU stock price 83.62% higher than its March low. This means that FCAU stock is currently 10.30% lower than it was before the pandemic started. On August 7th, FCAU stock price was at $10.90 a share. So up to August 12th, FCAU stock has gone up nearly 7% in share price.

What Now

If Fiat Chrysler can keep up this positive momentum it could potentially recover. The automotive industry is in a volatile state because of the economy. When news related to a COVID-19 vaccine is released then automotive stocks can sometimes go up. That is why it is important to do research before investing in automotive stocks. That is why DOOO stock and FCAU stock are two potential automotive stocks to buy.

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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