Why You Should Stay Away From EV Charging Stocks
The electric vehicle market is booming around the world, and as a result there's a growing need for electric vehicle chargers. It makes sense then that charging stocks would be highly valued given their large addressable market, right?
It's easy to see upside in charging, but the reality is that EV charging stocks are one investment I would avoid. Here's why these businesses are facing enormous headwinds long-term.
The business of making EV chargers and selling electricity to drivers is a money loser, and looks like it will be one for years to come. You can see below that Blink Charging (NASDAQ: BLNK), ChargePoint Holdings (NYSE: CHPT), and EVgo (NASDAQ: EVGO) are all losing about as much as they're making in revenue right now.
Source Fool.com
