Should You Buy EV Charging Stocks Right Now?
Not long ago, investors looking for electric vehicle (EV) charging stocks did not have many options. That changed with ChargePoint Holdings' (NYSE: CHPT) public listing in March this year. After ChargePoint, two more EV charging companies have gone public: EVgo (NASDAQ: EVGO) in July and Volta (NYSE: VLTA) in September. These listings added three more names to the previously available investable universe of just one EV charging company, Blink Charging (NASDAQ: BLNK) which went public in 2018.
Over the past three months, EV charging stocks have outperformed the broader market. In particular, EVgo's stock price is up nearly 74% while Blink Charging's stock price has risen 40%. Those are some fast and impressive gains, but consider that Blink is up 2,400% from the less than $2 per share that the stock was valued at two years ago.
Image source: ChargePoint.
Source Fool.com
