AUS
NZ
UK
CA
USA
IND
The growth of electric vehicles (EVs) was one of the hottest topics of the last decade. Tesla (TSLA:US, NASDAQ:TSLA) led the roaring green buzz across Wall Street, which was soon picked up by EV companies across the world.
Among this new crop are two emerging stocks – China-based Nio Inc. (NIO:US, NYSE:NIO) and Canadian firm GreenPower Motor Company Inc. (TSXV:GPV). Both EV stocks have surpassed Tesla’s equity performance in the past one year.
The Covid-19 crisis has forced most businesses to restart from scratch, allowing budding players got a chance to build their presence. This has led to new highs in the clean vehicle industry.
Let us delve into the above two growing EV players’ price performances:
Nio Inc. (NIO:US, NYSE:NIO)
The Chinese EV maker’s share price has risen over 833 per cent in one year, beating the S&P 500 Auto Manufacturers Index. Its current stock price is US$ 38.91 apiece. It holds a healthy trading average volume of over 80 million in the past 50 days.
Its market cap is around US$ 63.75 billion for all class shares, which makes it the fifth-largest EV firm in the world.
The stock went through a correction in the last few months and dropped by 42 per cent against its 52-week high of US$ 66.99 apiece (recorded on January 11, 2021). However, the clean stock has rebounded more than 14 per cent week-to-date (WTD).
In the first quarter of 2021, Nio reported total revenues of approximately US$ 1.22 billion, representing a rise of nearly 482 per cent year-over-year.
Copyright ©Kalkine Media 2021
GreenPower Motor Company Inc. (TSXV:GPV)
The Toronto Stock Exchange Venture-listed all-electric vehicles and parts manufacturer’s stock have zoomed 711 per cent in one year to C$ 20.43 apiece. It has a market cap of C$ 427 million.
The EV stock has declined as much as 53 per cent compared to its all-time high of C$ 43.62 apiece (recorded on January 6, 2021). From the last week, the stock has started gaining traction and improved by 6.24 per cent.
Earlier this month, the company got a certified supplier status for New Jersey green incentive program. It is expanding footprints in the American EV market. GreenPower shares are also listed on the New York-based NASDAQ Exchange.
Please note: The above constitutes a preliminary view and any interest in stocks should be evaluated further from an investment point of view. The reference data in this article has been partly sourced from EODHD/Others
