S&P 500   4,538.43
DOW   34,580.08
QQQ   383.13
S&P 500   4,538.43
DOW   34,580.08
QQQ   383.13
S&P 500   4,538.43
DOW   34,580.08
QQQ   383.13
S&P 500   4,538.43
DOW   34,580.08
QQQ   383.13

7 Electric Vehicle Stocks That Are Ready to Charge Higher - 1 of 7

 

#1 - Tesla (NASDAQ:TSLA)

Tesla logo

Earlier this year, we left Tesla (NASDAQ:TSLA) off a list of seven EV stocks. Part of that was that it seemed too obvious. But TSLA stock also was looking overvalued. Since then, the stock received a haircut but has now pushed to a record high. In fact after receiving an order for 100,000 of its vehicles from Hertz (OTCMKTS:HTZZ), Tesla stock became the latest stock to achieve a $1 trillion market cap. 

The company posted earnings in October and beat on both the top and bottom lines. Perhaps more impressive was the degree to which the company beat year-over-year (YOY) comparisons. Revenue was 56% higher and earnings were 144% higher from the same quarter in 2020.

Although Tesla CEO Elon Musk has expressed his displeasure that this subsidy will benefit the unionized big three automakers, Tesla should come out alright. The company is well-positioned to take advantage of these tax credits. Not only is it already delivering EVs, but it has a charging infrastructure in place to help reduce the range anxiety that other EV manufacturers will have to overcome. 

About Tesla

Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The company operates through the following segments: Automotive and Energy Generation and Storage.Read More 
Current Price
$1,014.97
Consensus Rating
Hold
Ratings Breakdown
14 Buy Ratings, 10 Hold Ratings, 10 Sell Ratings.
Consensus Price Target
$749.03 (26.2% Downside)





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