This is a 7-price electric car penny stock worth $500 in March is now worth it
Who would have thought that 2020 will be the dawn of a new era of electric car stocks. Although many of these companies have been on the market in one shape or form for many years, most are traded in cents. Tesla (Tesla Inc.) (NASDAQ: TSLA) has always been a leader in the industry, but now it has found that it has many major competitors. There is no denying that FOMO (fear of missing opportunities) has promoted these little-known short-term trend names, and those who invested early are now benefiting from them. Before we continue, we need to acknowledge that these stocks carry huge risks. The EV stocks detailed below are as volatile as penny stocks. Therefore, if you are looking for ways to trade these names or make money from penny stocks, it is important to control your downside. All in all, many new electric car stocks have also helped drive demand. Suppose you decide to invest some money in electric car penny stocks after the sell-off in March this year. If you spent $500 and blindly invested in some of these names, what would it look like now? Kandi Technologies Group, Inc. (NASDAQ: KNDI) Kandi Technologies is one of the newer names in this field. In 2013, the company and the Chinese automobile manufacturer Geely Group jointly invested and established Fengsheng Automobile Technology Group Co., Ltd. to develop, produce and sell pure electric vehicle products. Earlier this year, Fullsun launched its first pure electric SUV Maple 30x. Today, Kandi has established partnerships with dealers to launch two "reasonably priced EV models" in retail form, namely K23 and K27. In the past two weeks, KNDI's share price has risen by nearly 180%, almost back to the all-time high of $17.40 on July 30. A $500 investment in Kandi in mid-March will allow approximately 230 shares to be acquired. At today's price, the value of the position is approximately $3,300. This is a return of 560%. ElectraMeccanicaVehicles Corp (NASDAQ: SOLO) ElectraMeccanica's flagship product is a single-person electric vehicle called "SOLO". The company has been committed to commercialization and expanding its coverage in the United States. Its first round of new retail locations was announced at the end of October, and the first shipment of SOLO EV has just arrived in North America. , SOLO’s stock price has soared in recent weeks. Paul Rivera, CEO of ElectraMeccanica, said in an interview with Ben Singa in July: “We don’t want to compete with Tesla… When you drive this car, it’s only you, and you focus on Road." When the transaction price is about US$0.90 in mid-March, the US$500 position will reach the level of 555 shares. As of Thursday, the former low-priced stock reached a high of $9.74, and the position was worth about $5,405, an increase of 900%. Blink Charging Co. As charging stations are still a hot topic between traders and customers, the company continues to gain exposure. Blink not only focuses on expanding the charging range, but the company also benefits from other industry news. For example, Apple (NASDAQ: AAPL) announced earlier this year that its Apple Maps will include EV charging routes. According to Blink, this will include its charging station. Last week, Blink launched a cable management solution for new and old electric car chargers. BLNK hit a record high on Thursday, breaking through $19 for the first time. By mid-March, BLNK’s $500 position will be approximately 312 shares at a price of $1.60 per share. At today's price, the value of the position is more than $5,720, an increase of more than 1,000%. AyroInc. (NASDAQ: AYRO) Ayro Inc. initially focused on manufacturing short-distance electric vehicles, such as things that drive around university campuses and office buildings. But the company recently reached a partnership with Karma Automotive, which includes a plan to produce more than 20,000 light trucks in the next three years. According to reports, its value is as high as 300 million US dollars. Although AYRO is still one of the lower-priced EV stocks, its stock is also explosive. Prior to the merger with DropCar, the stock was trading at approximately $0.40 in mid-March. The $500 position is approximately equal to 1,250 shares of DCAR-now AYRO. At the current price level higher than $6, the value of the position is approximately $7,700. Green Power Motors (NASDAQ: GP) Green Power was initially listed on the TSX Venture market and traded on the U.S. OTCQX Market under the stock code GPVRF. After Green Power applied for an initial public offering of 35 million US dollars in Nasdaq, it began to use GP for trading. GP is a well-known symbol today. The company produces electric buses, freight vehicles, shuttles and transportation vehicles. Green Power recently completed a transaction for six electric school buses, which were sold to Thermalito Union Elementary School District through Creative Bus Sales, Greenpower’s national distributor. When GP reached $23.45 earlier this year, the former penny stock is currently trading at about $19. As early as mid-March, when Green Power was still trading on OTCQX, a penny of stock was worth about $1.05, which meant that a $500 position was equivalent to about 476 shares. Judging from the recent $19 level, the position has now increased by 1,700% and is worth about $9,000. Workhorse Group (NASDAQ: WKHS) Who would forget Workhorse Group? This is one of the electric car penny stocks introduced by Trump Tweet last summer. The company specializes in the production of medium-duty trucks with powertrain components under the Workhorse chassis brand. Recently, WKHS gained some momentum after receiving an order from Pritchard for 500 all-electric C-1000 delivery trucks. After news that Ford Motor Company will launch its own electric freight car, the momentum has weakened. Needless to say, this year is not bad for this small predecessor company. In mid-March, the stock traded at approximately $1.50. WKHS reached a high of $30.99 at its peak. Currently, the share price of electric vehicles is approximately $22.78 per share. This means that the $500 position (approximately 333 shares) in March is now worth more than $7,580, an increase of more than 1,400%. Nio Inc. is no longer a novice. Last year, Weilai Automobile became a one-cent stock, trading as low as $1.19. Although it did not experience a massive sell-off like most markets in the first quarter, NIO stock hovered around $2.30 in mid-March. However, given the company's recent earnings performance, Weilai Auto's share price is $48, breaking the highest level in history. In mid-March, a $500 position was equivalent to 217 shares of NIO. Today, this will be worth $10,500, which is equivalent to a gain of more than 2,000%. Neither the author of this article nor Pennystocks.com has any position or financial relationship with any of the aforementioned stocks. View more information from Benzinga * Click here for Benzinga's option trading * Cannabis stocks rise and fall since November 19, 2020 * Bitcoin, Ethereum, and Chainlink-US Packaging: November 19, 2020 (C ) Benzinga.com. Benzinga does not provide investment advice. all rights reserved.