3 stocks for charging electric vehicles, prepared for summer profits
The boom of the electric vehicle is accelerating. Along with President Biden’s promise to reduce emissions in the United States by up to 52 percent, he wants up to 500,000 charging stations set up nationwide. This is great news for owners and investors of electric vehicles. According to Chargepoint (NASDAQ: CHPT) President and CEO Pasquale Romano: InvestorPlace ̵
1; Stock Market News, Stock Tips and Trading Tips “By creating grants and discounts for state and local governments, Biden’s plan will increase investment of the private sector in the charging infrastructure of the EV nation, an approach that already drives investment today. “While you can always buy EV stocks like Tesla (NASDAQ: TSLA) or Nio (NYSE: NIO) in the news, another option is to pick up and stock up on EV charging stations. After all, we’ll need a lot of them. to power EV 10 of the best stocks for Nasdaq Blue-Chip chips Here are 3 stocks for charging electric vehicles prepared for summer profits: Flashing charge (NASDAQ: BLNK) Chargepoint (NASDAQ: CHPT) Tortoise Acquisition II (NYSE) : SNPR) The Department of Transportation and the Department of Energy are moving forward with the development of charging stations, major car companies including Daimler (OTC: DMLRY), Volkswagen (OTC: VWAGY), General Motors (NYSE: GM), Ford (NYSE: F) ) and BMW (OTC: BMWYY) electrify their fleets, and countries around the world want millions of electric vehicles on the roads as soon as possible EV Charging Stocks to buy: Blink Charging (BLNK) Source: David Tonelson / Shutterstock.com road When I weighed Blink Charging, it was trading about $ 42 a share. That was on April 1. Since then, shares of BLNK have returned to $ 37.35, where the weakness is the ability to buy for several key reasons. First, after finding triple-bottom support around $ 35, the stock has just started to go up. From here, I would like to see an initial test for a previous resistance of about $ 59. Second, governments around the world want millions of electric vehicles on the roads. The big car companies are moving towards an all-electric future. Consumer demand is growing. This is directly related to three: in order for electric cars to work, we will need many charging stations around the world. Four, as I noted in early April, the company’s growth seems strong. In its final quarter, fourth-quarter revenue jumped 250 percent year-over-year to $ 2.5 million, from $ 700,000. In addition, revenue in 2021 increased 121% to $ 6.2 million from $ 2.8 million during the year. Chargepoint (CHPT) Source: JL IMAGES / Shutterstock.com Previously, I weighed Chargepoint shares, which traded around $ 28 on April 1. At the moment, it is just starting to spin from triple-bottom support. From here, I’d like to see a short-term test of at least $ 32. In the end, it’s hard to bet against a company like CHPT. Along with Blink Charging, Chargepoint is another industry leader. Of course, fourth-quarter revenue fell from $ 43.2 million to $ 42.4 million during the year. However, gross margin improved to 21% from 20.4% on an annual basis. 10 of the best shares of Nasdaq Blue-Chip for purchase plus, in the future CHPT expects to report revenue for the first quarter between 195 and 205 million dollars. The average point, according to the company, is 37% annual growth. Acquisition of Turtles II (SNPR) Source: Evgenia Paradjanyan / Shutterstock.com On April 1, I also mentioned SNPR, as it was trading at about $ 11. While the stock has since returned to $ 10.39, I would see the weakness here as an opportunity to buy. I would like to see it for about $ 15 in the future, especially when it merges with Volta Industries. First, as I mentioned in early April: “According to the Volta investor deck, the company expects to increase its charging stations from 1,507 in 2020 to over 26.00 by 2025 (Page 47). It also expects to increase revenue from $ 25 million in 2020 to $ 826 million by 2025. This is a five-year compound annual growth rate (CAGR) of 100%. “Second, Volta continues to expand across the country. Most recently, it announced a partnership with Macy’s (NYSE: M). So far, the two have about 100 stations located in 40 locations. Macy’s says it will increase this by up to 50% only As of the date of publication, Ian Cooper did not have (either directly or indirectly) positions in the securities mentioned in this article, and Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based consulting since 1999. More from InvestorPlace Why everyone invests in 5G All WRONG It doesn’t matter if you have $ 500 savings or $ 5 million, do it now Top Top Picker reveals its next potential 500% Winner Stock Prodigy, which has found a NIO of $ 2 … BUY NOW The publication 3 stocks for charging electric vehicles prepared for summer profits appeared for the first time on InvestorPlace.