Stock Groups

3 Electric Vehicle Stocks Under $10 Wall Street Predicts Will Rally by More Than 55% By StockNews

[ad_1]

© Reuters 3 Electric Vehicle Stocks Under $10 Wall Street Predicts Will Rally by More Than 55%

The Biden administration has unveiled plans for significant spending on EV infrastructure. Moreover, the revival of the semiconductor industry from its current supply shortage, and declining input costs, should drive the EV industry’s growth. Wall Street analysts predict that EV stocks Hylion (HYLN), Electric Last Mile Solutionss (ELMS), Workhorse Groups (WKHS), will see a price rise of more than 55% within the next few months. Keep reading. Countries around the world have made significant investments to shift to green technology in order to tackle climate change. Biden has set the goal for half of all new vehicles to be electric or battery-powered by 2030. In line with these goals, a U.S. House of Representatives panel recommended spending $13.5 million on electric vehicle infrastructure.

A rebounding semiconductor market and decreasing input costs will help the North American electric vehicle (EV) market grow at a 37.2% annual rate over 2021-2028.

Given the industry’s solid growth prospects, Wall Street analysts expect EV stocks Hyliion Holdings Corp. (HYLN), Electric Last Mile Solutions, Inc. (ELMS), and Workhorse Group Inc. (WKHS), which are currently trading at less than $10, to rally by more than 55% in price in the near term.

Continue reading on StockNews

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. CFDs include futures, stocks, indexes and Forex. Prices are provided not by the exchanges. They are created by market makers. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.



[ad_2]