Which Electric Vehicle Stocks Are Worth the Money?
Electric vehicles (EV) are a hot investing topic these days. Not so much because they constitute a significant share of auto sales, but more because the prices of EV-related stocks are skyrocketing on future speculation.
President Joe Biden has said he wants the entire federal fleet of vehicles to be replaced with EVs. Such action will be an expensive undertaking and is unlikely to happen quickly, but it's significant news. That's on top of recent government bans in parts of the European Union and elsewhere on the sale of gas-powered vehicles by some point in the next 10-15 years.
All these moves are creating an extra buzz in the EV investment sector at the moment and EV stocks are jumping. Tesla (NASDAQ: TSLA) stock spiked about 350% in the past 12 months alone. Even veteran carmaker General Motors' (NYSE: GM) stock is getting an EV boost too, reaching all-time highs relative to its bankruptcy protection filing back in 2009.
Source Fool.com
