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Benzinga
Here’s What $ 500 Invested In 7 Electric Vehicle Penny Stocks In March Is Now Worth
Who would have thought that 2020 would be the dawn of a new era in EV inventory. While many of these companies have been in the market in some form or form for years, most trade in the form of penny stocks. Tesla Inc (NASDAQ: TSLA), which has always been the best dog in the business, now finds itself with a number of major competitors.It is undeniable that FOMO (fear of missing out) has driven the short term trends of those lesser known. and those who invested early are now reaping the rewards. Before we continue, we must recognize that these actions carry enormous risks. EV stocks detailed below are all volatile like penny stocks. So if you are looking for ways to trade these names or make money with penny stocks, it is important to control your downside. That being said, a number of new EV stocks have also helped fuel demand. Let’s say you decided that after the massive sell-off in March of this year to invest money in electric vehicle subtitles. What would it look like right now if you were to take $ 500 at that point and blindly throw it in some of these names? Kandi Technologies Group, Inc. (NASDAQ: KNDI) Kandi Technologies is one of the new names in the space. In 2013, the company and Geely Group, a Chinese automobile manufacturer, jointly invested in establishing Fengsheng Automotive Technology Group Co., Ltd. in order to develop, manufacture and sell pure EV products. Earlier this year, Fengsheng introduced its first all-electric SUV, the Maple 30x.Fast-forward until today and Kandi has established dealer partnerships for the retail launch of two “affordable EV models” – K23 and K27. KNDI shares have risen nearly 180% over the past two weeks, nearly hitting an all-time high of $ 17.40 as of July 30. A $ 500 investment in Kandi in mid-March would have earned someone around 230 stocks. At today’s price, this position would be worth around $ 3,300. That’s a 560% return. ElectraMeccanica Vehicles Corp (NASDAQ: SOLO) ElectraMeccanica’s flagship product is a single-passenger electric vehicle called “SOLO”. The company is working to commercialize and strengthen its footprint in the United States, with its first round of new retail locations just announced at the end of October and the initial shipment of SOLO EV. who just arrived in North America. , SOLO shares have surged in recent weeks. In an interview with Benzinga in July, Paul Rivera, CEO of ElectraMeccanica, said: “We are not trying to compete with Tesla … When you drive this car, it’s just you, and you are focused on the road.” With SOLO shares trading around $ 0.90 in mid-March, a position of $ 500 would be somewhere in the 555 stocks. On Thursday, the old penny stock hit a high of $ 9.74, making this position worth around $ 5,405, a gain of 900%. Blink Charging Co. (NASDAQ: BLNK) Another of the “pick and shovel” EV stocks is Blink Charging. The company continues to gain visibility as its charging stations remain a hot topic among merchants and customers. Not only has Blink focused on expanding its charging footprint, the company has benefited from other industry news as well. Apple Inc (NASDAQ: AAPL) for example, announced earlier this year that its Apple Maps will include EV charging routing. According to Blink, this will include its charging stations. Last week, Blink showcased a cable management solution for new and existing EV charger locations. BLNK hit a new all-time high on Thursday, breaking $ 19 for the first time. A position of $ 500 in BLNK around mid-March would equate to around 312 shares at $ 1.60. At today’s price, this post is worth over $ 5,720, a gain of over 1000%. Ayro Inc. (NASDAQ: AYRO) Ayro Inc. initially focused on manufacturing short-haul electric vehicles, such as vehicles that drive 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 worth up to $ 300 million. While AYRO is still one of the cheapest EV stocks, the stocks have been just as explosive. Prior to its merger with DropCar, shares were trading around $ 0.40 in mid-March. A position of $ 500 equals approximately 1,250 shares of DCAR – now AYRO. At current levels this week above $ 6, this position is worth around $ 7,700. Green Power Motors (NASDAQ: GP) Green Power was originally listed on the TSX Venture market and traded in the United States on the OTCQX market under the symbol GPVRF. After filing a $ 35 million IPO on the Nasdaq, Green Power began trading under GP, the symbol for which it is known today. The company manufactures electric buses, freight delivery vehicles, shuttles and mass transit vehicles. Green Power recently struck a deal for six electric school buses which were sold to Thermalito Union Elementary School District through Greenpower’s national distributor, Creative Bus Sales. Although GP reached $ 23.45 earlier this year, the former penny stock is currently trading around $ 19. In mid-March, while Green Power was still on the OTCQX, the penny was worth around $ 1.05, meaning that a position of $ 500 was equivalent to around 476 shares. At recent levels of $ 19, this 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 electric vehicle captions originally put together by a Tweet from Trump last summer. The company specializes in medium-duty trucks with powertrain components under the Workhorse chassis brand. More recently, WKHS has gained momentum after receiving an order form for 500 all-electric C-1000 delivery vehicles from Pritchard Companies. Some of the momentum had been stifled following news that Ford Motor Company (NYSE: F) would deploy its own electric cargo vehicle. Needless to say, this hasn’t been a bad year for the old penny stock. In mid-March, the shares were trading around $ 1.50. At its peak, WKHS hit highs of $ 30.99. Currently, the EV share is around $ 22.78 per share. This means that a position of $ 500 in March (roughly 333 shares) is now worth over $ 7,580 or a gain of over 1400% .Nio Inc. (NYSE: NIO) Nio is no longer the new kid on the block. Last year, NIO went into a penny stock, at one point, priced as low as $ 1.19. While it didn’t experience a massive sell-off like most markets did in the first quarter, NIO shares were hovering around $ 2.30 in mid-March. But in light of the company’s recent earnings beat, NIO is at $ 48, knocking on the door all time. A position of $ 500 in mid-March would equate to approximately 217 shares of NIO. Today that would be worth $ 10,500, which equates to a gain of over 2,000%. Neither the author of this article nor Pennystocks.com has a position or financial relationship with any of the above mentioned stocks. See more from Benzinga * Click here for Benzinga options trades * Winners and losers of cannabis shares from November 19, 2020 * Bitcoin, Ethereum & Chainlink – American Wrap: 11/19/2020 (C) 2020 Benzinga. com. Benzinga does not provide investment advice. All rights reserved.
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