1 Electric Vehicle Stock to Buy Hand Over Fist and 1 to Avoid Right Now
Once a darling of the stock market, electric vehicle (EV) stocks have recently come under significant pressure. In addition to worries about higher-than-anticipated inflation levels and subsequent interest rate hikes, investors are also concerned about rising commodity costs in the face of the ongoing Russia-Ukraine war.
With Russia as the major supplier of nickel, a critical ingredient in EV batteries, prices of this key raw material have been surging at a breakneck speed. Several EV players focused on premium models (which use nickel-heavy, lithium-ion batteries) will either be forced to raise prices or reduce margins. However, a leading China-based new energy vehicle (NEV) player BYD (OTC: BYDDY) (OTC: BYDD.F) may be less affected.
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Source Fool.com