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Benzinga
Here’s what $ 500 invested in 7 cent shares of EVs is worth in March right now
Who would have thought that 2020 would be the beginning of a new era in electric vehicle stocks? Although many of these companies have been on the market in one shape or form for years, most have been traded as penny stocks. Tesla Inc (NASDAQ: TSLA), which was always the industry leader, is now running into a number of significant competitors. There is no denying that FOMO (fear of missing something) has driven short-term trends in these lesser known countries. names, and those who invested early are now reaping the benefits. Before we continue, we must recognize that these actions carry enormous amounts of risk. The EV stocks listed below are all volatile like penny stocks. So if you are looking for ways to trade these names or make money from penny stocks, it is important to control your downside. All that said, a number of new EV stocks have also helped drive demand. Let’s say you decided that after the liquidation in March this year to invest some money in penny stocks of electric vehicles. What would that look like right now if you took $ 500 at the time and threw it blindly at some of these names? Kandi Technologies Group, Inc. (NASDAQ: KNDI) Kandi Technologies is one of the newer names in the space. In 2013, the company and Geely Group, a Chinese automaker, jointly invested in the establishment of Fengsheng Automotive Technology Group Co., Ltd. to develop, manufacture and sell pure EV products. Earlier this year, Fengsheng introduced its first pure electric SUV, the Maple 30x. Fast forward to this day and Kandi has established dealer partnerships for the retail launch of two “affordable electric vehicle models”: K23 and K27. KNDI shares have rallied nearly 180% in the past two weeks, almost returning to the all-time high of $ 17.40 since July 30. A $ 500 investment in Kandi in mid-March would have earned someone about 230 shares. At today’s price, that position would be worth around $ 3,300. That’s a 560% return. ElectraMeccanica Vehicles Corp (NASDAQ: SOLO) ElectraMeccanica’s flagship is a single passenger electric vehicle called “SOLO”. The company has been working towards marketing and building its presence in the US, with its first round of new retail locations just announced in late October and the initial shipment of SOLO EV’s just arriving in North America. With the trade launch imminent and momentum as a backdrop, SOLO shares have risen in recent weeks. In a July interview with Benzinga, ElectraMeccanica CEO Paul Rivera said: “We are not trying to compete with Tesla … When you drive this car, it is just you and you are focused on the road.” With SOLO shares trading around $ 0.90 in mid-March, a $ 500 position would be somewhere in the 555-share ballpark. As of Thursday, the old penny stock peaked at $ 9.74, making that position worth around $ 5,405, a 900% gain. Another “pick and shovel” electric vehicle stock is Blink Charging. The company continues to gain exposure as its charging stations continue to be a hot topic among merchants and customers. Not only has Blink focused on expanding its cargo footprint, but the company has also benefited from other industry news. Apple Inc (NASDAQ: AAPL), for example, announced earlier this year that its Apple maps would include electric vehicle charging routing. According to Blink, that will include its charging stations. Last week, Blink introduced a cable management solution for new and existing electric vehicle charger locations. BLNK hit a new high on Thursday, breaking $ 19 for the first time. A $ 500 position in BLNK in mid-March would equal approximately 312 shares at $ 1.60. At current price, that position is worth more than $ 5,720 or a profit of more than 1,000%. Ayro Inc. (NASDAQ: AYRO) Ayro Inc. initially focused on manufacturing short-haul electric vehicles, such as those that circulate around college campuses and office complexes. But the company’s recent agreement with Karma Automotive forms a partnership that includes a plan to produce more than 20,000 light trucks over the next three years. It is also reported to be worth up to $ 300 million. While AYRO remains one of the lowest priced EV stocks, the stocks have been just as explosive. Before its merger with DropCar, the stock was trading around $ 0.40 in mid-March. A $ 500 position equaled approximately 1,250 shares of DCAR, now AYRO. At this week’s current levels above $ 6, that position is worth about $ 7,700 Green Power Motors (NASDAQ: GP) Green Power was originally traded on the TSX Venture market and was traded in the US on the market. OTCQX under the symbol GPVRF. After applying for a $ 35 million initial public offering on the Nasdaq, Green Power began trading under GP, the symbol by which it is known today. The company manufactures electric buses, cargo delivery vehicles, shuttles and transit vehicles. Green Power recently closed a deal for six electric school buses that were sold to Thermalito Union Elementary School District through Greenpower’s national distributor, Creative Bus Sales. While GP hit $ 23.45 earlier this year, the old penny stock is currently trading around $ 19. In mid-March, when Green Power was still on the OTCQX, the penny share was worth around $ 1.05, which means that a position of $ 500 equaled approximately 476 shares. From recent levels of $ 19, that position is now 1,700% higher valued at around $ 9,000. Workhorse Group (NASDAQ: WKHS) Who could forget Workhorse Group? It was one of the EV stocks originally brought to life thanks to a tweet from Trump last summer. The company specializes in medium duty trucks with powertrain components under the Workhorse chassis brand. Most recently, WKHS picked up some momentum after receiving a purchase order for 500 fully electric C-1000 delivery vehicles from Pritchard Companies. Some of the momentum had been stifled following news that Ford Motor Company (NYSE: F) would launch its own electric charging vehicle. Needless to say, it hasn’t been a bad year for the old penny stocks. In mid-March, the stock was trading around $ 1.50. At its peak, WKHS reached highs of $ 30.99. Currently, EV shares are around $ 22.78 per share. That means that a position of $ 500 in March (approximately 333 shares) is now worth more than $ 7,580 or a gain of more than 1,400%. Nio Inc. (NYSE: NIO) Nio is no longer the new kid on the block. Last year, NIO became a penny stock, at one point trading as low as $ 1.19. Although it did not experience a massive sell-off like most of the market did in the first quarter, NIO’s stock was hovering around $ 2.30 in mid-March. But in light of the company’s recent earnings surge, NIO is at $ 48, knocking on the door of all-time highs. A position of $ 500 in mid-March would equal about 217 shares of NIO. Today, that would be worth $ 10,500, which equates to a profit of more than 2,000%. Neither the author of this publication nor Pennystocks.com has a financial position or relationship with any of the stocks listed above. See more from Benzinga * Click here for Benzinga options * Cannabis Stock Winners and Losers as of Nov 19, 2020 * Bitcoin, Ethereum, and Chainlink – American Wrap: 11/19/2020 (C) 2020 Benzinga. com. Benzinga does not offer investment advice. All rights reserved.
