There are only a few reliable pure-play EV stocks that investors can choose from, so there’s a fine line between discovering your next massive gain or landing on the worst electric vehicle stock in 2020
Forced halts to overall production, a near nonexistent labor force at one point and economic factors during COVID-19 haven’t exactly been kind to the automotive industry… However the durability and near-explosive growth in big names like Tesla Inc (Nasdaq: TSLA) and Nio Inc (NYSE: NIO) have turned more investors onto the electric vehicle mania.
In fact, stock market analysts expect the EV market to grow stronger and recover faster in China than the United States due to its resilience in sales and production.
And now there’s a new EV name getting thrown around on Wall Street that’s currently $3 a stock and has three wheels to match… but should investors buy into what this microcar company is trying to sell?
Traders, today former hedge fund manager Lance Ippolito is calling B.S. on what could be the worst electric vehicle stock to own in 2020.
This EV company’s purpose is to design and manufacture environmentally friendly electric vehicles… all wrapped up in a single-seat, three-wheeled package.
Now at only $3 a share right now, there’s not much to complain about the stock up front… until Lance did a little digging.
Check this out: He couldn’t find a darn thing about them. It’s almost as if they have ZERO presence in the U.S., and he couldn’t even find out if they’ve sold a single car yet.
So then Lance went to look at some pictures of this car… And we don’t know about you, but Lance is only 5-9 and can barely fit into a Prius. It almost looks like these cars were made for children.
And that’s not the only problem he has with this company…
Watch Lance’s video below to get the name and ticker symbol of the worst electric vehicle stock in 2020. What do you think about the EV market? Do you have any EV stocks you like to trade or avoid? Let us know your thoughts in the comments below!
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