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Revving Up Your Portfolio: Unleashing the Power of EV Stocks in Q2

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As the dust settles on the electric vehicle (EV) landscape, an industry once humming with excitement is gearing up for a resurgence. While Tesla (NASDAQ:TSLA) remains a colossal figure, the horizon is teeming with contenders vying for the throne. After grappling with a slowdown at the close of 2023, the EV sector is cohort is prepping for a dynamic bounceback. Economic indicators allude to a sunnier outlook, with consumer spending poised to soar. Recent price slashes by EV manufacturers are luring buyers back onto the grid, promising a recharged industry that is set to reshape the highways.

The Unstoppable Tesla (TSLA)

Tesla (TSLA) supercharging station during the day.

Amidst the turmoil, Tesla has weathered some fierce storms. Despite hitting a six-month nadir, with the current stock trading at $163, down 34% year-to-date, Tesla refuses to tap out. Venturing into the Indian market could be its trump card. Regulatory hurdles have been hurdled, potentially paving the way for a Tesla renaissance in India. Granted, the competition is nipping at its heels, but Tesla’s first-mover advantage still reigns supreme. Price adjustments, influenced by inflation and demand, will likely prove to be a mere detour on Tesla’s road to redemption.

Lighting Up with Li Auto (LI)

Li Auto logo and store in downtown Lujiazui. Li Auto, also known as Li Xiang, is a Chinese electric vehicle manufacturer. Business and finance concept photo.

Witnessing a stellar 2023, Li Auto (NASDAQ:LI) embarked on this year with gusto, although momentum dipped. Launching the Li Mega, it’s gunning for glory; yet, the price tags might dim its sparkle. However, lucrative offers may soon punctuate the defiant roar. Despite experiencing a slight downturn in deliveries lately, improved margins signal a trajectory towards success. Priced at $37 today, boasting a 65% surge YTD, Li Auto’s star is on the rise, positioning it as a prime contender in the realm of EV stocks.

BYD (BYDDF): The Dark Horse

A close-up view of the power supply plugged into a vehicle from BYD Company (BYDDY).

A rising threat to Tesla’s hegemony, BYD (OTCMKTS:BYDDF) dazzles with its prowess. Having outpaced Tesla’s delivery milestones in 2023, BYD’s global footprint is rife with potential. Notwithstanding industry deceleration, a stellar 48% surge in sales year-over-year in January speaks volumes. Current trading at $26, with a mere 4% uptick this year, BYD remains a stealth contender with untapped potential. Entering new territories, forging alliances, and eyeing expansion in Europe, BYD is set to sprint ahead in the EV race.

On the date of publication, Vandita Jadeja did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Vandita Jadeja, a CPA and financial copywriter, is fueled by a passion for stocks. Her penchant for long-term investments shapes her astute analyses.

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The post 3 EV Stocks to Charge Up Your Portfolio Before Q2 Revs Up appeared first on InvestorPlace.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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