3 No-Brainer EV Stocks to Buy With $1,000 Right Now
Many electric vehicle (EV) stocks crumbled over the past year as the market cooled off and rising interest rates compressed their valuations. But according to Precedence Research, the global EV market could still expand at a compound annual growth rate (CAGR) of 23.4% from 2024 to 2032 as EVs gradually replace gas-powered vehicles.
Therefore, the recent sell-off in EV stocks might represent a golden buying opportunity for value-minded investors who can look past the near-term headwinds. Today, I'll dig deeper into three beaten-down EV stocks -- Rivian Automotive (NASDAQ: RIVN), Nio (NYSE: NIO), and ChargePoint Holdings (NYSE: CHPT) -- and explain why they might generate multi-bagger gains from a modest $1,000 investment over the next few years.
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Source Fool.com
NIO Inc. Stock
Currently there is a rather positive sentiment for NIO Inc. with 3 Buy predictions and 0 Sell predictions.
As a result the target price of 5 € shows a slightly positive potential of 1.83% compared to the current price of 4.91 € for NIO Inc..
