3 Top Electric Vehicle Stocks To Watch In September 2020
The electric vehicle stocks trending in the market have been very interesting to watch. Some of the best electric vehicle stocks to watch in 2020 have been reaching big numbers and are new to the market. Technology has advanced to the point where electric cars may become the new normal for everyone. As a new sector in the market, investors are placing lots of trust in electric vehicle stocks.
One of the more obvious electric vehicle stocks that are at the top of the sector is Tesla (TSLA Stock Report). Tesla has been able to reach over $2000 in its stock price now. This shows the true potential of the electric vehicle industry as a whole. That is why there are many other companies rising with a focus on these cars. Now let’s look at three electric vehicle stocks that have been performing well in the market.
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Top Electric Vehicle Stocks To Buy [Or Avoid] In September 2020: NIO
The first electric vehicle stock to watch is NIO Limited (NIO Stock Report). NIO is a Chinese electric vehicle maker that is making moves in 2020. Nio’s sales reports back in June were better than expected. Nio’s vehicle sales were up 215% year over year in the same month. The week of August 24th, NIO stock is up 35% because of its potential in the market.
NIO stock was up 50% at one point, but then Nio released an announcement that worried some investors. Nio announced an offering of 75 million shares. This offering was a quote on quote “mainly to increase the share capital of and the company’s ownership in Nio China.” As of August 28th, NIO stock is at $18.87 a share on average. It’s high this week was around $20.95 a share. If Nio comes out with good reports in the future then NIO stock could rise more.
Top Electric Vehicle Stocks To Buy [Or Avoid] In September 2020: Workhorse Group
The next electric vehicle stock to watch is Workhorse Group Inc. (WKHS Stock Report). Workhorse is an electric vehicle company with a focus on delivery and utility vehicles. The company reported that it has begun production on some of its vans already. Is the only medium-duty battery electric vehicle from the factory to receive approvals in all 50 states.
The CEO of Workhorse Duane Hughes said, “In the first half of this year we accomplished a series of major operational and EV industry milestones, culminating in the first official deliveries of our C-Series trucks to Ryder just a few weeks ago.”
When WKHS stock price went from $4 a share on average to $16 a share on average from June to July, it has stayed rather consistent since. As of August 28th, WKHS stock is at $16.50 a share. WKHS stock is an electric vehicle stock to watch due to its potential to rise even more if sales go well.
Top Electric Vehicle Stocks To Buy [Or Avoid] In September 2020: XPeng Inc.
This next electric vehicle stock, XPeng Inc. (XPEV Stock Report) is new to the market. XPeng is an electric vehicle manufacturer from China. The company has raised more than $1 billion USD from investors. XPEV stock IPO at $23.10 a share on August 27th. This IPO was successful at raising $1.5 billion. On August 28th, XPEV stock price is at $22.40 a share so it has held its momentum.
XPeng is currently offering two vehicles in its lineup. These are the G3 SUV and the P7 sedan. The G3 has sold more than 18,000 units, and the P7 has sold nearly 2000. For the first half of 2020 XPeng’s revenue was $141.9 million and -$0.81 in EPS, a $112 million net loss. It seems like XPEV stock is off to a good start on the NYSE. Investors are interested to see what will happen with this new electric vehicle stock.
Whether it’s well-established companies like Tesla or new companies like Nikola Corporation (NKLA Stock Report), it is clear there are many electric vehicle stocks to consider. This ever-growing industry will advance much more in the coming decades. Just like XPeng, there are many new electric vehicle companies entering the market. Will these electric vehicle stocks be on your watch list?