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Benzinga
Here’s what’s worth investing $ 500 in 7p electric vehicle stocks in March
Who would have thought that 2020 would be the dawn of a new era in electric vehicle stocks. Although many of these companies have been on the market in one form or form for years, most have been traded as penny stocks. Tesla Inc (NASDAQ: TSLA), which has always been the best dog in the business, now finds itself with a number of notable competitors. There’s no denying that FOMO (fear of getting lost) has been leading short-term trends in these lesser-known names and those who invested early are now reaping the benefits. Before we continue, we must recognize that these stocks carry huge amounts of risk. The EV stocks described below are all volatile like penny stocks. So, if you’re looking for ways to trade these names or make money on penny stocks, it’s important to check your downside. That said, a number of new EV stocks have also helped fuel demand. Let’s say you’ve decided that after the March sale this year, invest some money in penny stocks of electric vehicles. What would it look like right now if you were to take $ 500 right now and blindly throw it into some of these names? Kandi Technologies Group, Inc. (NASDAQ: KNDI) Kandi Technologies is one of the newer names in the space. In 2013, the company and Geely Group, a Chinese automaker, jointly invested in the establishment of Fengsheng Automotive Technology Group Co., Ltd. in order to develop, manufacture and sell pure EV products. Earlier this year, Fengsheng unveiled its first pure electric SUV, the Maple 30x. Fast forward to today and Kandi has established partnerships with retailers for the retail launch of two “budget EV models” – K23 and K27. Shares of KNDI have risen nearly 180% in the past two weeks, nearly returning to an all-time high of $ 17.40 since July 30. A $ 500 investment in Kandi in mid-March would have brought someone around 230 shares. At today’s price, that position would be worth around $ 3,300. This is a 560% return. ElectraMeccanica Vehicles Corp (NASDAQ: SOLO) ElectraMeccanica’s flagship is a single-seater electric vehicle nicknamed “SOLO”. The company has been working on marketing and building its footprint in the United States, with its first round of new stores just announced in late October and the initial shipment of SOLO EVs arriving in North America. With the trade launch impending and momentum in the background, SOLO stocks have been up in the past few weeks. In a July interview with Benzinga, ElectraMeccanica CEO Paul Rivera said, “We’re not trying to compete with Tesla … When you drive this car, it’s just you and you’re focused on the road.” trading around $ 0.90 in mid-March, a $ 500 position would be somewhere in the range of 555 stocks. As of Thursday, the former penny stock hit a high of $ 9.74 making that position worth around $ 5,405, a 900% gain. Link Charging Co. (NASDAQ: BLNK) Another of the “pick and shovel” EV stocks is Blink Charging. The company continues to gain exposure as its charging stations remain a hot topic among merchants and customers. Blink has not only focused on expanding its charging footprint, but has also benefited from other industry news. Apple Inc (NASDAQ: AAPL), for example, announced earlier this year that its Apple maps will include electric vehicle charge routing. According to Blink, this will include its charging stations. Last week, Blink introduced a cable management solution for new and existing electric vehicle chargers. BLNK hit a new all-time high on Thursday, breaking $ 19 for the first time. A $ 500 position in BLNK around mid-March would equate to approximately 312 shares at $ 1.60. At today’s price that position is worth over $ 5,720 or a gain of over 1,000%. Ayro Inc. (NASDAQ: AYRO) Ayro Inc. initially focused on manufacturing short-range electric vehicles, such as things they drive on college campuses and office complexes. But the company’s recent agreement with Karma Automotive forms a partnership that includes a plan to produce more than 20,000 light trucks over the next three years. It is also reportedly worth $ 300 million. Although AYRO is still one of the low-priced electric vehicle stocks, the shares have been just as explosive. Prior to its merger with DropCar, the stock was trading around $ 0.40 in mid-March. A position of $ 500 was equivalent to approximately 1,250 shares of DCAR – now AYRO. At this week’s current levels above $ 6, that position is worth around $ 7,700 Green Power Motors (NASDAQ: GP) Green Power was originally listed on the TSX Venture market and traded in the US on the OTCQX market under the symbol GPVRF. After filing for a $ 35 million IPO on the Nasdaq, Green Power began trading with GP, the symbol it is known for today. The company manufactures electric buses, freight delivery vehicles, shuttles and transit vehicles. Green Power recently closed a deal for six electric school buses which were sold to Thermalito Union Elementary School District through Greenpower’s national distributor, Creative Bus Sales. While GP hit $ 23.45 earlier this year, the former penny stock is currently trading around $ 19. In mid-March, when Green Power was still on the OTCQX, the penny stock was worth around $ 1.05. which means that a position of $ 500 was equal to approximately 476 shares. As of recent levels of $ 19, that position is now 1,700% higher valued at around $ 9,000.Workhorse Group (NASDAQ: WKHS) Who could forget Workhorse Group? It was one of the penny stocks of electric vehicles originally brought to life by a Trump Tweet last summer. The company specializes in mid-size trucks with powertrain components under the Workhorse chassis brand. More recently, WKHS has gained some momentum after receiving a purchase order for 500 fully electric C-1000 delivery vehicles from Pritchard Companies. Part of the momentum had been stifled following news that Ford Motor Company (NYSE: F) would launch its own electric cargo vehicle. It goes without saying that it hasn’t been a bad year for the former penny stock. In mid-March, the stock was trading around $ 1.50. At its peak, WKHS hit highs of $ 30.99. Currently, the electric vehicle stock hovers around $ 22.78 per share. This means that a position of $ 500 in March (about 333 shares) is now worth more than $ 7,580 or a gain of over 1,400%. Nio Inc. (NYSE: NIO) Nio is no longer the new guy on the block. Last year NIO became a penny stock, at one point trading as low as $ 1.19. While it did not suffer a massive sell-off like most of the market in the first quarter, NIO stock was hovering around $ 2.30 in mid-March. But in light of the company’s recent earnings, NIO is at $ 48, knocking on the door of all-time highs. A $ 500 position in mid-March would equate to approximately 217 shares of NIO. Today it would be worth $ 10,500, equivalent to a gain of over 2,000%. Neither the author of this post nor Pennystocks.com has a financial position or relationship with any of the aforementioned securities. Learn more from Benzinga * Click here for options trades from Benzinga * Cannabis Stock Gains and Losers From November 19, 2020 * Bitcoin, Ethereum and Chainlink – American Wrap: 11/19/2020 (C) 2020 Benzinga.com . Benzinga does not provide investment advice. All rights reserved.
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