Missed Out on Tesla's Record Production Numbers? 2 Better EV Stocks to Buy Now
It's only been a few days into the 2022 investing year. And already, Tesla's (NASDAQ: TSLA) record-high Q4 2021 and full-year production numbers are all the buzz on Wall Street.
On Monday alone, share prices of Tesla gained $143 a share or 14%, catapulting the stock within just a few percentage points of an all-time high. Not only did Tesla's results beat expectations, but they came during a challenging global chip shortage that beleaguered the auto industry throughout 2021.
Despite the impressive performance, there's reason to believe that Tesla's $144 billion market cap gain on Monday was a bit too much. With a market cap that now stands at a whopping $1.2 trillion, investors are paying a premium for Tesla's future. The same goes for Lucid Group (NASDAQ: LCID) and Nio (NYSE: NIO). Here's what makes these two electric car stocks better buys now, even though all three are expensive.
Source Fool.com