Electric Vehicle Penny Stocks to Watch After the Long Weekend
As we head toward the end of January, penny stocks continue to ride the bullish wave. There has been an incredible amount of momentum building up in these cheap names in the past six months. One of the most interesting and undiscussed factors in play right now is the infusion of retail investors. Given that trading platforms like Robinhood are making investing easier than ever, there is a large amount of new capital in the stock market.Â
With this, investors are always searching for the best and most potentially valuable penny stocks to buy. With so many new traders, volatility seems to be at an all-time high. This is not true across the board, but it is something to keep in mind. Weâve also seen a boost of interest in certain areas of the market. Electric vehicles are one of these areas. So with a full year ahead of us, there are a few things that investors should know before picking certain EV penny stocks
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