As per dozens of news and price analysis articles, the founder of Tesla Inc is dedicated towards bringing revolution in the electric vehicle industry.
Will EV Stock Continue to Surge?
On August 25, 2023, Friday, stock TSLA closed at $, with a 3.72% price surge in one day of trading. The opening price during the trading session was $231.31 whereas the trading range was $239 to $230.35.
TSLA stock price has been in a downtrend since the beginning of this year. But the year-to-date (YTD) price analysis shows an uptick of 120.71%. The bearish market showed a reversal trend in the last week of May 2023 which helped the TSLA stock price regain momentum.
Nikola Inc. stock highest traded at $6.29 in the past 52 weeks although at press time NKLA stock was trading at $1.31 with a bullishness of 3.05%.
CHPT stock has gathered popularity when it increased its dominance in the EV charger making segment of the industry. ChargePoint Holdings Inc. is operating its business in more than 14 countries.
In the past 52 weeks, CHPT stock price declined by over 54.99%. The highest traded price of the stock is $19.92 which is around 75% greater than its publishing time trading price.
Li Auto Inc. stock has impressed its investors by giving a growth of 34% in 52 weeks. At press time, Li stock was trading at $39.26 and as per market analysts, a strong bullish movement is expected in the last week of August 2023.
On August 5 2023, Li Auto Inc. market capitalization broke all milestones and reached $45.37 Billion. It was the first time the company’s market cap crossed the $40 Billion mark. After this huge success, it became the 446th most valuable company globally.
Eni SpA (NYSE: E) stock is one of the most profitable stocks. Technical analysis shows that E share price added 144.86% to its trading price and in the 52 weeks’ time frame, E stock’s highest traded price was $32.21.
Conclusion
In the past 18 months, the EV industry has experienced remarkable growth – its overall market capitalization has surged over 23%. Tesla Inc. was the pioneer company to create a positive sentiment in the EV industry, and following its path, several other companies came into competition. Some hot EV stocks include CHPT stock, LI stock, E stock, and NKLA stock. It is important to note that the increasing EV adoption has pushed many EV manufacturers toward profitability.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/08/27/is-chpt-stock-li-stock-e-stock-profitable-in-the-ev-industry/