In 2020, electric vehicle (EV) stocks were on an absolute tear. Shares of
Tesla (NASDAQ:TSLA) gained an astonishing 743% last year compared to the 15% rise in the S&P 500 Index.
As the world shifts towards clean energy solutions, the demand for EV vehicles is expected to gain momentum in the upcoming decade. This means it is a good time to bet on companies that are part of this high-growth vertical.
Tesla stock is down 37% from record highs
After its astonishing run in 2020, Tesla stock is currently trading 37% below its record high. The broader market sell-off coupled with the stock’s steep valuation have contributed to its recent decline. Further, a new EV launched by