Welcome back to the channel everyone, so if you stay through to the end I have 3 strong EV penny
stocks, which analysts say could double from their current price levels and make you some massive
returns. These penny stocks look like winners as the EV sector expands, grows, and matures over the
next near to mid term and have big news right now, but the market hasn’t taken notice of them yet,
and that’s what most exciting about these penny stock. So make sure you don’t miss the
hit which I have for you at the end which has venture capitalists loading up on right now.
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So let’s jump straight into it, with our number 1 ev stock here, which is Ideanomics Inc (IDEX)
which we have covered on the channel before and I also hold in my portfolio for the long term.
It is Nasdaq listed; and it has a share price of $2.23 and market cap of $1bn.
Its share price is down 4.7% on the day and 11.2% over the last 5 days. YTD is up a tiny 8.1%.
And since it hit YTD highs of $5.5 it has since fallen averaging at the $2.5 mark
despite lots of exciting news and analyst bullishness in the stock. Let’s find out more.
Ideanomics recently Acquired VIA Motors in Transformative Deal, Valued at Up to $630MM.
VIA designs and plans to manufacture commercial electric vehicles for the global fleet market,
which is experiencing significant growth in its transformation to electric propulsion
and the addition of VIA Motors rounds out a full service offering for commercial fleet operators.
Via’s highly complementary products extend Ideanomics' market reach
and would promote collaborative development and marketing opportunities.
Ideanomics, Inc. Reported Q2 2021 Financial Results with Revenues for the Q2 at $33.2 million
and gross profit of $9.3 million. They also ended with a strong cash balance
of $396 million, providing a deep pool of capital for investment.
Ideanomics also has the only made in America EV tractor in the market at this time which puts
it in a strong position for Joe Biden’s Buy Ameriaca - Made In America agenda.
And their WAVE subsidiary which is a leading high-power inductive charging solution provider
for medium- and heavy-duty vehicles Has positioned itself to become the "Charger of Choice", which is
a solid prospect and so Ideanomics is executing on one of the most compelling, vertically integrated,
offerings in the EV sector, which puts it a good position for the share price to run.
But with all this good news and outlook, why is the market not excited about this penny stock?
Its one word - earnings. Over the last four quarters, the company has surpassed consensus
earnings estimates just once. The sustainability of the stock's immediate price movement
is based on the recently-released numbers and future earnings expectations which will
mostly depend on management's commentary. I believe the recent acquisition of Via Motors,
puts it in a good position with potentially more accretive earnings, so one to watch.
IDEX has 1 analyst1 covering the stock, all with a buy ratings. The
analysts upper price target of $7 per share gives it an upside of over 213%,
over the next 12months, so really exciting times ahead for this penny stock.
Next up to our number 2 ev penny stock for today which is Electrameccanica Vehicles Corp
(SOLO) which is Nasdaq listed. Another one we’ve covered on the channel. It is sitting at a share
price of $3.42 and market cap of $385mn. Its share price is down 3.1% on the month and also down 48%
YTD putting it in deep value territory down from its highs of $9.5 per share. So clearly
seeing the same share price trend as IDEX but is there reason to see a share price doubling soon?
SOLO has been on a marketing campaign recently and Debuted the “Cargo” Version of its Flagship
SOLO EV. The modified vehicle, dubbed the “SOLO Cargo EV,” is being unveiled
at the Advanced Clean Transportation (ACT) Expo, which is the industry’s
largest advanced transportation technology and clean fleet event.
In their Second Quarter 2021 Financial Summary they reported Cash equivalents at $250.0 million
as of June 30, 2021, compared with $129.5 million as of December 31, 2020.
The Operating loss in the second quarter was $15.3 million, compared to an operating loss of
$4.4 million in the same year-ago quarter. The management attribute the increase in
operating loss was primarily due to increases in G&A, R&D and sales and marketing expenses,.
Bal Bhullar added that: “They remain well capitalized and in a strong financial position
with over $250 million on our balance sheet and their plan for the next several months
is to continue with their expanded production efforts as well as the
buildout for their U.S. base of operations in Mesa, Arizona. Both initiatives are major
undertakings requiring significant investment and resources. And going forward, they will continue
to equally weigh their prudent expense management approach alongside their commitment to R&D and
manufacturing expansion to scale.” Which is really good to hear and we need to see delivery of this.
SOLO has 1 analyst covering the stock, with a buy rating. The analysts upper
price target of $12.25 per share gives it an upside of over 259%, over the next 12months,
so really exciting times ahead for this penny stock.
Next to our number 3 ev stock here, which is Ree Automotive Ltd (REE);
it has a share price of $5.95 and market cap of $1.8bbn. Yet again,
this penny stock has had a turbulent time in the market recently down 45% in the month and 42% YTD.
REE Automotive Ltd. operates in the e-mobility business.
The company develops REEcorner technology, which integrates vehicle drive components,
including steering, braking, suspension, powertrain, and control into the arch of the
wheel. The company also develops REEboard, a flat and modular EV chassis system.
REE Announced Second Quarter 2021 Financial Results following their recent Listing on the
NASDAQ exchange under Ticker Symbol “REE”. They continued to penetrate the EV Industry
through Multiple Strategic Alliances with Global Industry Leaders, based on Modular
Platforms ‘Powered by REE’ and they are working Toward Mass Commercial Production in 2023.
REE was recently awarded a $17 USD Million Funding from the UK Government The funding
will allow REE to advance commercial production of its breakthrough REEcorner™ technology and
ultra-modular EV platforms. The project will help accelerate the industry shift towards
net zero-emissions with REE’s technology designed to support extensive range of electric vehicles.
Frost & Sullivan also recognized REE as the 2021 Global EV Platform Company of the Year.
The award is based on Frost & Sullivan’s analysis of the global automotive market
and its evaluation of REE’s excellence in best practices for innovation and customer impact.
10X Capital Leadership also Purchased Additional Shares In REE Automotive common stock
totalling approximately $2 million, through open market purchases made in September 2021.
10X Capital is a venture capital and investment firm at the nexus of Wall Street and Silicon
Valley, aligning institutional capital with high growth ventures. This shows
really high conviction in REEs prospects and I would be loading up on this one as well.
REE has 3 analysts covering the stock, all with a STRONG buy ratings. The analysts upper
price target of $20 per share gives it an upside of over 236%, over the next 12months,
so really exciting times ahead for this penny stock, if you believe their story.
So a very interesting and mindblowing prospects ahead for these penny stocks
but only consider getting in if the price is right for you and if you fully understand the
risks. This video is not financial advice, a buy or a sell recommendation, but is meant
to bring some new and exciting stocks to your attention for you to do your own research.. As
always I would love to hear from you, so please let me know your thoughts on these stocks in the
comments section below and what other high growth stocks are catching your eyes lately.
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