ABB - This EV Charging and Robotics Stock Is Up Over 40% in Four Months Is It a Buy Now?
After turning in sluggish performance for the better part of a decade, some industrial technology stocks have been showing signs of life once again. Swiss robotics and electrification company ABB (NYSE: ABB) is one of them. Shares are up 40% from one-year lows reached just four months ago in early October 2022 -- and are up over 80% since the start of 2019.
After the company released its final earnings report for 2022, shares suddenly don't look so cheap. Nevertheless, for investors interested in electric vehicles, electric charging infrastructure, and robotics stocks, ABB could be a far better option than what typically garners attention. Here's why.
Seasoned investors know that flat-out growth can only go so far. The bear market of 2022 proved that out. Many fresh IPO stocks from the last few years got wiped out because of a complete lack of profitability (embodied by many upstart EV manufacturing and EV charging stocks).
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This EV Charging and Robotics Stock Is Up Over 40% in Four Months, Is It a Buy Now?