EV stocks are a hot commodity right now, and for good reason. The electric vehicle market is booming, and sales of electric vehicles have increased in recent years. With EV sales expected to continue growing rapidly, investing in EV stocks is a smart way to capitalize on this growing industry.
As the EV market matures, EV stocks become more valuable. Also, EV stocks offer a lot of variety. There are many different types of EV stocks, including batteries, charging infrastructure, and vehicle manufacturers. This diversity offers investors the opportunity to invest in different parts of the EV market and to diversify their investment portfolios.
Given the many benefits of investing in EV stocks, it’s no wonder they’re growing in popularity among both retail and institutional investors. With that in mind, let’s look at three Top EV Stocks seen on the stock market today.
EV stocks to watch in November 2022
Tesla (TSLA Stock)
let’s start today Tesla (TSLA) is a vertically integrated sustainable energy company. In short, Tesla makes electric cars, batteries, solar panels, and other related products. The Company sells solar panels and solar roofs for power generation and batteries for stationary storage for residential and commercial properties including utilities. In addition, Tesla has several vehicles in its fleet, including luxury and midsize sedans and crossover SUVs.
TSLA Latest Stock News
Last month, Tesla reported a miss for its third-quarter 2022 financial results. Tesla reported third-quarter 2022 earnings per share of $1.09 and revenue of $21.5 billion. This is compared to analyst consensus estimates for the third quarter of 2022, which called earnings per share of $1.01 and revenue of $22.5 billion.
Additionally, the company’s revenue for the quarter reflects a 55.9% year-over-year increase. In addition, Tesla also reported that it produced over 365,000 vehicles and delivered over 343,000 vehicles in the third quarter of 2022.
In the presentation to shareholders, the company said: “We remain focused on ramping up vehicle production as quickly as possible by increasing our weekly build rate in Fremont and Shanghai and progressing steadily through the production ramps in Berlin and Texas.“
TSLA stock chart
Year-to-date, Tesla shares are down 52.04%. Meanwhile, Tesla shares are trading down 2.19% at $191.68 per share during Monday morning’s trading session.
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Ford engine (F-bearing)
Let’s move on, let’s raise our attention Ford Motor Company (F). for starters,
The company manufactures automobiles under its Ford and Lincoln brands. In March 2022, the company announced that it would operate its internal combustion engine business, Ford Blue, and its BEV business, Ford Model e, as separate companies, but still all under the Ford Motor Company umbrella. Ford has a market share of approximately 12.5% in the United States.
F Latest stock news
In October, Ford Motor Company reported weaker-than-expected third-quarter 2022 financial results. Specifically, the company reported third-quarter 2022 earnings per share of $0.30 on sales of $39.4 billion.
For comparison, Wall Street consensus estimates for the quarter were for earnings of $0.30 per share and revenue of $37.4 billion for Q3 2022. Additionally, Ford reported revenue growth of 10.3% in the same period, a year earlier.
President and CEO Jim Farley commented: “We ask, “What’s best for customers?” in everything we do. Attracting customers drives a new Ford+ company with high ambitions for quality, innovation, profitability and growth across all of our businesses – making intelligent decisions about how we allocate capital even as we learn and adapt.”
F stock chart
In the most recent month of trading activity, Ford shares have rallied 21.55% after falling 34.84% so far in 2022. That being said, F-share opened 2.24% lower on Monday and is currently trading at $14.18 per share.
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Rivian Automotive (RIVN Stock)
Last but not least, Rivian Automotive (RIVN) designs, develops and manufactures category-defining electric vehicles and accessories. In addition, they sell them directly to customers in the consumer and commercial markets.
RIVN Latest Stock News
Last week, Rivian reported a hit to its third quarter 2022 financial results. To get straight to the point, the company reported a loss of $1.57 per share for the third quarter of 2022, along with revenue of $536 million. Dollar. The consensus analyst estimate for the quarter was a loss of $1.78 per share.
In addition, the company announced that it had produced 7,363 and delivered 5,684 vehicles. Rivian also reported that its net R1 pre-order inventory was over 114,000 as of November 7, 2022, adding to the 100,000 initial orders Amazon (NASDAQ:AMZN).
RIVN stock chart
In the last six months of trading, shares of RIVN stock have recovered by more than 34%. Since Monday morning’s trading session, Rivian shares are down 4.38% at $33.33 a share.
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