Electric vehicle stocks have boomed in the current market environment, thanks in no small part to Tesla's (NASDAQ: TSLA) meteoric rise. Now, other EV-centric companies are scrambling to tap into the enthusiasm for all things electric by going public and raising money.
However, investors should be careful. Just because another company throws its hat into the EV ring doesn't mean it's the next Tesla. Meanwhile, Tesla itself may be fully valued, or extremely overvalued, depending on whom you ask. Furthermore, the auto business is highly capital-intensive, meaning EV upstarts will have to lay out significant cash now in hopes of making profits one day -- a goal that's still uncertain.
With the mania for EVs at all-time highs, more value-conscious investors may wish to look at the following top tech stocks that also play into next-gen automotive trends.
For further details see:
Forget Electric Vehicle Stocks: These Tech Stocks Are Better Buys