TSLA - 2 EV Stocks You Can Buy Right Now Before They Surge Even Higher
Investors in electric vehicle (EV) stocks got a dose of reality in 2022. After much exuberance over the potential for many start-ups and related businesses, stocks in the sector were in correction mode last year.
That included the industry leaders, even as profits soared. Tesla (NASDAQ: TSLA) shares, for example, plunged 65% in 2022. There were several reasons investors fled these names, but some are piling back in this year. It's not too late, though, to own shares in the two biggest global EV manufacturers.
It may be surprising to some, but Tesla isn't the biggest maker of plug-in electric vehicles. That title now belongs to China-based BYD (OTC: BYDDY) when you include both its fully electric as well as plug-in hybrid sales. Shares of both Tesla and BYD are on the rise so far this year, though. And there are good reasons for investors to own both.
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2 EV Stocks You Can Buy Right Now Before They Surge Even Higher