From Six Figures to Seven: 3 EV Stocks Set to Make Millionaires

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Investors should bet on these EV stocks when the car market rebounds. Rivian (RIVN): The luxury EV maker has shown it can hit delivery targets as long as overall market demand is there. BYD (BYDDY): ...

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The world is transitioning from gasoline-only vehicles to hybrids and EVs. Unfortunately, the global electric vehicle market has had better days.Well-known brands like Tesla , as well as smaller EV players, have seen their deliveries growth contract in recent months.Regardless, now may be just the right time to invest in EV stocks, especially those that have seen their valuations plummet recently. Although a slump may blight sales growth in the short term, EVs are increasingly likely to be key in future transportation.Therefore, let’s examine EV stocks to buy on the dip.Howe","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","LU0823414478.USD":"法巴经典能源转换基金","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","BK4555":"新能源车","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","PSQ":"纳指反向ETF","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","TSLA":"特斯拉","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","QQQ":"纳指100ETF","QLD":"纳指两倍做多ETF","LU1861215975.USD":"贝莱德新一代科技基金 A2","TQQQ":"纳指三倍做多ETF",".IXIC":"NASDAQ Composite","BK4548":"巴美列捷福持仓","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","AEHR":"Aehr Test Systems","DRIV":"Global X Autonomous & Electric Vehicles ETF","LU2063271972.USD":"富兰克林创新领域基金","BK4592":"伊斯兰概念","BK4574":"无人驾驶","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","RIVN":"Rivian Automotive, Inc.","LU1548497426.USD":"安联环球人工智能AT Acc","BK4534":"瑞士信贷持仓","BK4527":"明星科技股","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU0056508442.USD":"贝莱德世界科技基金A2","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4581":"高盛持仓","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","BYDDY":"比亚迪ADR","SQQQ":"纳指三倍做空ETF","BK4588":"碎股","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0823411888.USD":"法巴消费创新基金 Cap","LU0234572021.USD":"高盛美国核心股票组合Acc","EVS.SI":"MSCI China Electric Vehicles and Future Mobility ETF-NikkoAM","QID":"纳指两倍做空ETF"},"translate_title":"从六位数到七位数：3只电动汽车股票将成为百万富翁","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AEHR":1,"TSLA":1,"RIVN":1,"DRIV":1,"BYDDY":1,".IXIC":0.79,"PSQ":0.6,"QID":0.6,"QLD":0.6,"QQQ":0.6,"SQQQ":0.6,"TQQQ":0.6,"EVS.SI":0.6,"MNQmain":0.6,"NQmain":0.6},"content_text":"Investors should bet on these EV stocks when the car market rebounds.\nRivian (RIVN): The luxury EV maker has shown it can hit delivery targets as long as overall market demand is there.\nBYD (BYDDY): The Shenzhen-based EV maker increased net income 81% in 2023.\nAehr Test Systems (AEHR): The company is still delivering robust financial figures.\n \n\n\n\n \n\nSource: shutterstock.com/JLStock\n\n\n\nElectric vehicles (EVs) are likely to be the key piece steering the future of private transportation. The world is transitioning from gasoline-only vehicles to hybrids and EVs. Unfortunately, the global electric vehicle market has had better days. Well-known brands like Tesla (NASDAQ:TSLA), as well as smaller EV players, have seen their deliveries growth contract in recent months. \nThe Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV), which holds around 84 EV and autonomous vehicles stocks, has fallen nearly 2% year to date (YTD). This highlights that EV stocks have struggled to perform despite a solid market rally. \nRegardless, now may be just the right time to invest in EV stocks, especially those that have seen their valuations plummet recently. Although a slump may blight sales growth in the short term, EVs are increasingly likely to be key in future transportation. \nTherefore, let’s examine EV stocks to buy on the dip.\nRivian (RIVN)\nSource: Tada Images / Shutterstock.comRivian’s (NASDAQ:RIVN) price has plummeted around 55% YTD, creating an enticing buying opportunity for retail investors interested in luxury EVs. \nDespite Rivian having solid production and delivery numbers for the first three quarters of 2023, it slipped in Q4. And now that the price has fallen, Rivian probably deserves another look. \nThe sharp sell-off in Rivian shares could reverse as interest rates decrease toward the end of 2024. Recently, the U.S. Federal Reserve recommitted to three 25-basis point cuts to the Federal Funds rate, decreasing the interest rate down 0.75% in total. For these reasons, Rivian could eventually rally in 2024, rewarding investors who were committed to the company’s long-term success. \nMoreover, Wall Street analysts seem to be loving the stock. According to Koyfin, the EV maker has a solid buy rating. If RIVN’s deliveries rebound at some point in 2024, the EV maker could see its share rise.\nBYD (BYDDY)\nSource: shutterstock.com/Trygve FinkelsenBYD (OTCMKTS:BYDDY) has experienced skyrocketing growth in just the past few years. It began as a smartphone battery maker only to be laughed at by Elon Musk when it initially entered the EV race. \nHowever, BYD has become the world’s top EV maker, trouncing its American rival Tesla in EV sales. In Q4 of 2023, BYD sold 526,409 EVs, while Tesla sold 484,507. \nDespite an EV slowdown, BYD is still increasing its sales year over year (YOY). And in January 2024, the company sold 205,588 EVs, up 33.1% YOY, but down more than 34% monthly. Similarly, February sales declined nearly 40%. But this is at least somewhat attributable to the Lunar New Year holiday. The Chinese EV maker was not the only large EV company to report a month-over-month decline in sales growth.\nTo cushion the slowdown in sales, BYD and its competitors have pursued price cuts in their expensive models. For example, BYD’s Yuan Plus SUV has a price tag of 119,800 yuan, approximately $16,642. That’s nearly 12% less than where it was before. Ever since the company reported its full-year earnings results, analysts have been speculating if this price war has hurt BYD operationally. While net income increased 81% YOY, it came slightly under estimates. This left some analysts to believe BYD’s profit per vehicle sold had decreased. \nBYD’s Hong Kong-listed shares fell more than 7% after the earnings report release. The market appears to be overreacting, especially over a slight profit miss. The growth in both revenue and profitability were eye-catching. The other fact of the matter is BYD is and continues to be larger than Tesla in EV sales as well as more profitable.\nAehr Test Systems (AEHR)\nSource: ShutterstockSemiconductor equipment manufacturer Aehr Test Systems (NASDAQ:AEHR) globally provides test systems for burning-in and testing logic, optical and memory integrated circuits.\nThe company is famous for providing testing equipment and services for EV microchip components. EV demand continued throughout 2023, benefitting AEHR revenue growth. \nUnfortunately, the ongoing EV market slowdown has led AEHR shares to tumble nearly 58% YTD. The company’s Q2 earnings report released in January highlighted the company’s continued strong growth despite a slowdown in the EV market. Further, AEHR beat Wall Street’s estimates on revenue and EPS. \nOn the date of publication, Tyrik Torres did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.\nTyrik Torres has been studying and participating in financial markets since he was in college, and he has particular passion for helping people understand complex systems. His areas of expertise are semiconductor and enterprise software equities. He has work experience in both investing (public and private markets) and investment banking.Automotive, Consumer Discretionary, Electric Vehicles\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSubmit\n\n\n\n\n\n\n\nArticle printed from InvestorPlace Media, https://investorplace.com/2024/03/from-six-figures-to-seven-3-ev-stocks-set-to-make-millionaires/.\n©2024 InvestorPlace Media, LLC","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2423372062"}