5 Ways EV Stocks Are Like Tech Stocks Were in 1999
The bubble in electric vehicle (EV) stocks may already be starting to pop.
Shares of Tesla (NASDAQ: TSLA) are down 28% from their all-time high, while Nio (NYSE: NIO), the leading Chinese EV maker, is off 43%. Other popular EV-related Robinhood stocks like Churchill Capital (NYSE: CCIV), Blink Charging (NASDAQ: BLNK), Nikola (NASDAQ: NKLA), and Workhorse (NASDAQ: WKHS) are all down significantly from previous peaks. Looking out at a longer time frame, however, these stocks are still up multiples from where they were just a year or two ago before the EV sector took off. In other words, if this is a bubble, these stocks could have a lot further to fall.
In fact, the sector resembles the height of the dot-com bubble in 1999 in a number of ways. Keep reading to see five of them.
Source Fool.com
