You’ve heard the stories about how Tesla Inc. (Nasdaq: TSLA) shares have been skyrocketing over the last several months — up 200% since the start of 2020.
But you probably haven’t heard as much about two other electric vehicle producers that are rising just as fast.
Chinese-based Nio Inc. (NYSE: NIO) and Nikola Corp. (Nasdaq: NKLA) have also been on the rise of late.
In fact, Nio jumped 14% to start this week after it reported a 322% increase in July vehicle deliveries. Nikola earned a buy rating from Deutsche Bank on Monday and surged 22%.
It speaks to the overall growth of the electric vehicle market.
U.S. Electric Vehicle Market Set to Explode
Even the global market for electric vehicles is expected to grow five times over by 2026.
Global Electric Vehicle Market Expansion
With the market share expected to grow that far, that fast, these three companies are setting themselves up to be the favorites to lead the expansion.
Some pundits even think Nio and Nikola can rise even further and faster than the more known Tesla.
In this episode of The Bull & The Bear, host Matthew Clark looks at all three companies and tells you if the pundits are right or not.
Right now, there’s no comparison between the three companies as Tesla dwarfs the other two.
But that’s not to say that Nio, Nikola … or even both … couldn’t give Tesla a run for its money in terms of market share.
We’ll look at how each company is performing and whether the data supports the possibility that Nio or Nikola could test Tesla’s electric vehicle dominance.
Editor’s Note: New energy is going to be one of the most profitable mega trends for 2020 and beyond. America’s potential $51 trillion recovery will be of an unheard magnitude. Only it’s not from a single thing the government is doing. Or even from big corporations. Instead, it’s due to one tiny pioneering American company. You won’t believe what this made-in-America device does. Click here for the full story.
The Bull & The Bear
Led by Money & Markets Chief Investment Strategist Adam O’Dell and a team of finance journalists, traders and experts, Money & Markets gives you the information you need to protect your nest egg, grow your wealth and safeguard your financial well-being.
Be sure to also subscribe to our YouTube channel for more videos and information.
Have something you want us to talk about? Email us at firstname.lastname@example.org and give us your thoughts.
Check out MoneyandMarkets.com and sign up for our free newsletters that deliver you the most important and unbiased financial news, commentary and actionable advice.
Also, follow us on: