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- 1 The concept of sustainability is not new to the world and thus skyrocketed the demand for low-carbon transportation.
- 2 Communities are more conscious of the environment, attracting investors towards EV stocks.
The charm of sustainability attracts communities towards an eco-friendly future and the stock market is not an exception. Investors getting attracted to environmentalism, meme stock fandom, and growth opportunities. Considering the current situation, Electric Vehicle (EV) stocks hold the power to alter the game of stocks in the future. The stocks can act as an addition to the investment portfolio, constructing a sustainable and eco-friendly future.
Tesla (NASDAQ: TSLA)
Tesla, a giant player in the consumer durable sector, had extended its roots to the EV space. Introduced in 2003, the company is heavily engaged in the designing, manufacturing, development, and sale of EVs, energy generation, and storage systems. With a workforce of 127.855K, Tesla is performing well in the Energy Generation and Automotive segments. Focusing on the current performance, the firm is standing at an annual revenue of $81.462 Billion with a net income of 12.583 Billion. Price-to-earning ratio (TTM) of Tesla is 75.89 and the basic EPS is $3.87. TSLA stock price is $271.30, a hike of 1.43% in the past 24 hours, holding a market cap of $861.105 Billion. Enhanced interest of investors towards EV stocks and awareness for eco-friendly purchases just boosted the chances of TSLA stock performing well in the future.
NIO Inc. (NASDAQ: NIO)
Another powerful name listed in the category of top 3 EV stocks is NIO Inc., a Chinese firm engaged in the designing, manufacturing, and sale of EVs. The company was founded in 2014 and developed its strong position in the evolving marketplace. Leader in segments including public charging, battery swapping, and power express valet services, NIO is all set to construct an eco-friendly future soon. NIO’s stock price is $10.07 with a market cap of $16.087 Billion. The stock is a buy as per an aggregate view of professional ratings, assumed to offer heavy profits in the future. The annual revenue of the firm is $7.317 Billion and is predicted to skyrocket soon.
ChargePoint Holdings, Inc. (NASDAQ: CHPT)
Another EV stock you can consider for investment is ChargePoint Holdings. The company was founded in 2007 and operates as an electric vehicle provider. In addition, the company also works with the designing, development, and marketing of electric vehicle charging system infrastructures. With 1.65K employees, ChargePoint Holdings is all set to develop a sustainable future. CHPT stock price at current is $5.80, an upsurge of 2.29% in the past 24 hours with a market cap of $2.088 Billion. The stock is a buy as per the professional’s ratings, holding an annual revenue of $468.094 Million.
With the continuous demand for digital services and assets like cryptocurrency, the demand for Eco-friendly products is also booming.
With the increased demand for digital services and assets like cryptocurrency, the demand for Eco-friendly products is also booming.
Conclusion
The awareness of communities towards sustainability raised the value of EV stocks in the stock market. Investing in EV stocks such as ChargePoint Holdings, NIO Inc., and Tesla can help investors earn more profits in the near future.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
