S&P 500   5,098.57 (-0.63%)
DOW   38,816.90 (-0.44%)
QQQ   438.58 (-1.23%)
AAPL   170.43 (-2.67%)
MSFT   406.75 (-1.97%)
META   493.74 (-0.89%)
GOOGL   132.07 (-0.96%)
AMZN   175.79 (-1.01%)
TSLA   183.57 (-2.43%)
NVDA   853.79 (+0.17%)
NIO   5.38 (+0.94%)
AMD   203.78 (-0.77%)
BABA   72.16 (+0.22%)
T   17.19 (+2.32%)
F   12.69 (-0.39%)
MU   94.96 (-0.85%)
CGC   2.92 (-3.31%)
GE   162.06 (+0.65%)
DIS   113.13 (-0.49%)
AMC   4.28 (-0.93%)
PFE   25.72 (-0.66%)
PYPL   59.90 (-0.13%)
XOM   105.30 (+0.90%)
S&P 500   5,098.57 (-0.63%)
DOW   38,816.90 (-0.44%)
QQQ   438.58 (-1.23%)
AAPL   170.43 (-2.67%)
MSFT   406.75 (-1.97%)
META   493.74 (-0.89%)
GOOGL   132.07 (-0.96%)
AMZN   175.79 (-1.01%)
TSLA   183.57 (-2.43%)
NVDA   853.79 (+0.17%)
NIO   5.38 (+0.94%)
AMD   203.78 (-0.77%)
BABA   72.16 (+0.22%)
T   17.19 (+2.32%)
F   12.69 (-0.39%)
MU   94.96 (-0.85%)
CGC   2.92 (-3.31%)
GE   162.06 (+0.65%)
DIS   113.13 (-0.49%)
AMC   4.28 (-0.93%)
PFE   25.72 (-0.66%)
PYPL   59.90 (-0.13%)
XOM   105.30 (+0.90%)
S&P 500   5,098.57 (-0.63%)
DOW   38,816.90 (-0.44%)
QQQ   438.58 (-1.23%)
AAPL   170.43 (-2.67%)
MSFT   406.75 (-1.97%)
META   493.74 (-0.89%)
GOOGL   132.07 (-0.96%)
AMZN   175.79 (-1.01%)
TSLA   183.57 (-2.43%)
NVDA   853.79 (+0.17%)
NIO   5.38 (+0.94%)
AMD   203.78 (-0.77%)
BABA   72.16 (+0.22%)
T   17.19 (+2.32%)
F   12.69 (-0.39%)
MU   94.96 (-0.85%)
CGC   2.92 (-3.31%)
GE   162.06 (+0.65%)
DIS   113.13 (-0.49%)
AMC   4.28 (-0.93%)
PFE   25.72 (-0.66%)
PYPL   59.90 (-0.13%)
XOM   105.30 (+0.90%)
S&P 500   5,098.57 (-0.63%)
DOW   38,816.90 (-0.44%)
QQQ   438.58 (-1.23%)
AAPL   170.43 (-2.67%)
MSFT   406.75 (-1.97%)
META   493.74 (-0.89%)
GOOGL   132.07 (-0.96%)
AMZN   175.79 (-1.01%)
TSLA   183.57 (-2.43%)
NVDA   853.79 (+0.17%)
NIO   5.38 (+0.94%)
AMD   203.78 (-0.77%)
BABA   72.16 (+0.22%)
T   17.19 (+2.32%)
F   12.69 (-0.39%)
MU   94.96 (-0.85%)
CGC   2.92 (-3.31%)
GE   162.06 (+0.65%)
DIS   113.13 (-0.49%)
AMC   4.28 (-0.93%)
PFE   25.72 (-0.66%)
PYPL   59.90 (-0.13%)
XOM   105.30 (+0.90%)

3 EV Stocks You Need To Have On Your Watchlist

EV stocks to buy

Key Points

  • NIO is trading at 1x sales while revenue is at all-time highs. 
  • Rivian has a 200% upside, according to Bank of America. 
  • Ford’s EV prospects have been boosted by Tesla and Musk. 
  • 5 stocks we like better than Ford Motor

Earlier this week, we wrote about Tesla Inc’s NASDAQ: TSLA strengthening market position and the triple-digit rally that shares are seeing. And while there is a sense that Tesla remains pretty much uncatchable, for now at least, that’s not to say there aren’t other opportunities opening up in the electric vehicle (EV) space.

Let’s look at three such stocks that are, at the very least, worth having on your watchlist and perhaps a little more. 

NIO Inc NYSE: NIO

Like Tesla, NIO’s shares hit all-time highs back in 2021. But unlike its larger competitor, its shares have continued their slide into 2023. They’re currently trading just above where they IPO’d back in 2018, and while they’re not at all-time lows, they’re also not a million miles off

So what’s the angle here for the bulls, you ask? Well, based on the stock’s performance alone, NIO is one of those stocks where investors will have to pinch their noses for a while if they’re going to get involved. But there are positive points worth considering. 

Their quarterly revenue is at an all-time high while their shares are trading at about 1x sales. If you’re a believer in the EV market, and if you interpret Tesla’s improving share price as a reasonable bellwether for the industry as a whole, you’ve got to be thinking that a rising tide will float all boats. And on the face of it, NIO feels quite cheap right now for a company that’s been pumping out $2 billion in quarterly revenues. They report their Q2 earnings tomorrow, don’t be surprised if there’s an upside beat and/or improved guidance that brings some much-missed strength back to the bid. 


Rivian Automotive Inc NASDAQ: RIVN

Rivian is another EV name that will require a strong stomach if you’re thinking about getting involved. Their shares hit an all-time low in April, and while they’ve managed to rally about 15% from there since, it’s not a good look. However, with greater risk comes greater reward, and therein lies the opportunity. 

This stock has been beaten down so much there’s not much else they can disappoint investors with. And while that should never be a reason for getting involved by itself, it’s one that will attract the speculator. Rivian’s gross margins and operating expenses have been showing improvement in recent quarterly reports, and management is keen to reduce their cash burn further. One example of this push for efficiency is the company’s switch to LFP battery packs which are 20% cheaper to produce, a move that will certainly add some weight to the effort to hit positive gross margins.

Just last month, the teams at both Barclays and Bank of America reiterated their Buy rating on the stock, with the former claiming “the worst is over.” And consider for a moment just how favorably their respective price targets of $22 and $40 compare to last night’s closing price of $13.80.

Ford Motor Company NYSE: F

If the first two stocks of this list were on the speculative side of things, the EV opportunity with Ford is a lot safer. They’re arguably Tesla’s closest competitor on that front and have closed the gap considerably over the past two years. And if you want to know just what Tesla thinks of them, consider this; just two weeks ago, Tesla and Ford announced a partnership that will see the latter gaining access to the formers’ network of more than 12,000 Supercharger stations. 

It’s a move that will allow Tesla to access federal funding but one that will also double the number of chargers available to Ford EV drivers. It also removes one of the more significant technical headwinds that the Ford team was struggling to address while also opening up the potential for the two companies to deepen their partnership - something Musk himself alluded to with the announcement. 

Ford’s shares jumped on the news and are up more than 20% since. They’re on the verge of breaking out of a multi-month sideways trend, and investors can expect to see a closer correlation with the shares of Tesla in the months, which is no bad thing for a 120-year industry titan these days. 

→ Critical asset just had biggest fall on record (From Stansberry Research) (Ad)

Should you invest $1,000 in Ford Motor right now?

Before you consider Ford Motor, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ford Motor wasn't on the list.

While Ford Motor currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks to Buy And Hold Forever Cover

Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.

Get This Free Report

Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Ford Motor (F)
4.3643 of 5 stars
$12.69-0.4%4.73%11.75Hold$13.81
NIO (NIO)
1.4848 of 5 stars
$5.38+0.9%N/A-2.97Hold$12.25
Tesla (TSLA)
4.7622 of 5 stars
$183.57-2.4%N/A42.59Hold$219.89
Rivian Automotive (RIVN)
3.1758 of 5 stars
$10.93+0.2%N/A-1.90Hold$20.73
Compare These Stocks  Add These Stocks to My Watchlist 

Sam Quirke

About Sam Quirke

  • s.quirke.us@gmail.com

Contributing Author

Technical Analysis

Experience

Sam Quirke has been a contributing writer for MarketBeat since 2019.

Areas of Expertise

Technical and fundamental analysis, tech stocks, large caps, timing entries and exits

Education

Trinity College, Dublin, Ireland

Past Experience

Professional futures trader, start-up fund manager


Featured Articles and Offers

The Tesla Earnings Story That's NOT Being Told

The Tesla Earnings Story That's NOT Being Told

If the last year of price cuts and sluggish sales weren’t enough to tip off the market to the fact the EV bubble has burst, Tesla’s NASDAQ: TSLA Q4 results and outlook for 2024 should do it.

Search Headlines: