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
Renewable energy stocks’ share gains in 2020 were enormous, and the trend has so far continued in 2021. The tailwinds are manifold; The global risks due to climate change have only come further to the fore during the pandemic, and the cost of renewable energy continues to drop, marking it as not only greener but even cheaper than traditional alternatives. Plus, the new Biden administration has put extra emphasis on the need for clean energy, and government policies will continue to support low-carbon solutions. Plug Power (PLUG) has been one of the companies to benefit from all the above and the hydrogen fuel cell maker has particularly caught investors’ imaginations. The last 12 months have delivered massive returns (up by 1,317%) and the stock has already nearly doubled this year. Among the fans is B. Riley analyst Christopher Souther, who rates PLUG shares a Buy along with an $83 price target. This figure indicates further upside of ~31% over the next 12 months. (To wa
Plug Power Learns French, and This Analyst Plays La Marseillaise yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.