Benzinga

Here’s What $500 Invested In 7 Electric Vehicle Penny Stocks In March Is Worth Right Now

Who would have thought 2020 can be the daybreak of a brand new period in electrical car shares. Although many of those corporations have been available on the market in a single form or kind for years, most have traded as penny shares. Tesla Inc (NASDAQ: TSLA), which was all the time the highest canine within the trade, now finds itself with quite a few main rivals.There isn’t any denying that FOMO (worry of lacking out) has pushed short-term traits in these lesser-known names, and people who invested early are actually reaping the advantages.Earlier than we proceed, we have to acknowledge that these shares carry big quantities of danger. The EV shares detailed beneath are all unstable like penny shares. So if you’re in search of methods to commerce these names or generate profits with penny shares, it is necessary to regulate your draw back.All that being mentioned, quite a few new EV shares have additionally helped gasoline demand. For example you determined that after the March sell-off this 12 months to speculate some cash into electrical car penny shares. What would that appear to be proper now when you have been to take $500 at the moment and throw it blindly into a few of these names?Kandi Applied sciences Group, Inc. (NASDAQ: KNDI)Kandi Applied sciences is likely one of the newer names within the area. In 2013, the corporate and Geely Group, a Chinese language automaker, collectively invested within the institution of Fengsheng Automotive Know-how Group Co., Ltd. with a view to develop, manufacture and promote pure EV merchandise. Earlier this 12 months, Fengsheng launched its first pure electrical SUV, the Maple 30x.Quick-forward to immediately and Kandi has established vendor partnerships for the retail launch of two “inexpensive EV fashions”- Okay23 and Okay27. Shares of KNDI have rallied nearly 180% within the final two weeks, almost getting again to the all-time excessive of $17.40 from July 30.A $500 funding in Kandi in mid-March would’ve gotten somebody round 230 shares. At immediately’s worth, that place can be value round $3,300. That is a 560% return.ElectraMeccanica Autos Corp (NASDAQ: SOLO)ElectraMeccanica’s flagship is a single-passenger EV dubbed “SOLO”. The corporate has been working towards commercialization and constructing its U.S. footprint, with its first spherical of latest retail areas simply introduced on the finish of October and the preliminary cargo of SOLO EV’s simply arriving in North America.With business launch imminent and momentum as a backdrop, SOLO shares have surged in current weeks. In a July interview with Benzinga, ElectraMeccanica CEO Paul Rivera mentioned, “We’re not making an attempt to compete with Tesla… Once you’re driving this automotive, it is simply you, and also you’re targeted on the street.”With SOLO shares buying and selling round $0.90 in mid-March, a $500 place can be someplace within the ballpark of 555 shares. As of Thursday, the previous penny inventory reached a excessive of $9.74 making that place value about $5,405, a 900% achieve.Blink Charging Co. (NASDAQ: BLNK)One other one of many “choose and shovel” EV shares is Blink Charging. The corporate continues gaining publicity as its charging stations stay a sizzling matter amongst merchants and clients alike. Not solely has Blink targeted on increasing its charging footprint, however the firm has additionally benefitted from different trade information. Apple Inc (NASDAQ: AAPL) for instance, introduced earlier this 12 months that its Apple Maps would come with EV cost routing. In keeping with Blink, that may embody its charging stations. Final week, Blink launched a cable administration answer for brand spanking new and current EV charger areas.BLNK reached a brand new all-time excessive Thursday, breaking $19 for the primary time. A $500 place in BLNK round mid-March would equate to roughly 312 shares at $1.60. At immediately’s worth that place is value over $5,720 or an over 1,000% achieve.Ayro Inc. (NASDAQ: AYRO)Ayro Inc. initially targeted on manufacturing short-haul electrical autos, corresponding to issues that drive round faculty campuses and workplace complexes. However the firm’s current take care of Karma Automotive varieties a partnership that features a plan to supply greater than 20,000 light-duty vans over the subsequent three years. It is also reportedly value as a lot as $300 million. Whereas AYRO remains to be one of many lower-priced EV shares, shares have been equally explosive. Previous to its merger with DropCar, shares have been buying and selling round $0.40 in mid-March. A $500 place was equal to roughly 1,250 shares of DCAR – now AYRO. At this week’s present ranges above $6, that place is value proper round $7,700.Inexperienced Energy Motors (NASDAQ: GP)Inexperienced Energy was initially listed on the TSX Enterprise market and traded within the U.S. on the OTCQX Market below the image GPVRF. After submitting for a $35 million IPO on the Nasdaq, Inexperienced Energy started buying and selling below GP, the image it is recognized for immediately. The corporate manufactures electrical buses, cargo supply autos, shuttles, and transit autos. Inexperienced Energy not too long ago closed a deal for six electrical faculty buses that have been offered to Thermalito Union Elementary Faculty District by means of Greenpower’s nationwide distributor, Artistic Bus Gross sales.Whereas GP reached of $23.45 earlier this 12 months, the previous penny inventory at present trades round $19. Again in mid-March when Inexperienced Energy was nonetheless on the OTCQX, the penny inventory was value round $1.05 which means a $500 place was equal to about 476 shares. As of current ranges of $19, that place is now 1,700% larger valued at round $9,000.Workhorse Group (NASDAQ: WKHS)Who may neglect Workhorse Group? It was one of many electrical car penny shares initially dropped at life by a Trump Tweet final summer season. The corporate makes a speciality of medium-duty vans with powertrain parts below the Workhorse chassis model. Most not too long ago, WKHS caught some momentum after receiving a purchase order order for 500 all-electric C-1000 supply autos from Pritchard Corporations. A number of the momentum had been stifled following information that Ford Motor Firm (NYSE: F) can be rolling out its personal electrical cargo car.For sure, it hasn’t been a nasty 12 months for the previous penny inventory. In mid-March, shares have been buying and selling round $1.50. At its peak, WKHS reached highs of $30.99. At the moment, the EV inventory sits round $22.78 a share. Meaning a $500 place in March (roughly 333 shares) is now value over $7,580 or an over 1,400% achieve.Nio Inc. (NYSE: NIO)Nio is not the brand new child on the block anymore. Final 12 months NIO grew to become a penny inventory, at one level buying and selling as little as $1.19. Although it did not expertise a large sell-off like many of the market did within the first quarter, shares of NIO inventory have been hovering round $2.30 in mid-March. However in gentle of the corporate’s current earnings beat, NIO is at $48, knocking on the door of all-time highs. A $500 place in Mid-March would equate to about 217 shares of NIO. As we speak that might be value $10,500, equating to a achieve of over 2,000%. Neither the creator of this put up nor Pennystocks.com have a place or monetary relationship with any of the shares talked about above. See extra from Benzinga * Click on right here for choices trades from Benzinga * Hashish Inventory Gainers And Losers From November 19, 2020 * Bitcoin, Ethereum & Chainlink – American Wrap: 11/19/2020(C) 2020 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.

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