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EV Penny Stocks Surge In January
Electric vehicle penny stocks are some of the most popular in the stock market this month. There are a few reasons why both institutional and retail investors alike are checking these stocks out. These companies operate in the electric vehicle space either directly or indirectly. Within the industry, some companies produce cars, other companies produce battery materials, and there is a wide range of ancillary businesses working within the industry.Â
In the past few months, interest surrounding EV penny stocks has shot up due to Joe Bidenâs election win. Biden has stated that he wants to bring the U.S. toward being completely renewable energy-dependent within the next decade. This could include potential subsidies for EV manufacturers and those who purchase these vehicles. Additionally, the rise of companies like Tesla Inc. (NASDAQ: TSLA) and Nio Inc. (NYSE: NIO) has brought a new sense of confidence in the EV market outlook.Â