|Forget Lordstown Motors. Buy These 3 Electric Car Stocks Instead |
These three companies look like long-term winners as the auto industry evolves.
Lou Whiteman, John Rosevear, and Rich Duprey
Jun 26, 2021 at 7:00AM
Investors in Lordstown Motors ( NASDAQ:RIDE) have endured a rough ride in the last few months.
The electric pickup start-up came into 2021 with a lot of promise, but has been weighed down first by accusations from a short-seller and more recently by a company warning that it might not have enough cash to stay in business for another year.
The Lordstown story is illustrative of both the promise, and the risk, that comes with investing in electric vehicle (EV) companies. There's almost no doubt the industry is evolving quickly, and electrification is the future. But there are a lot of companies chasing that future, many of them are in their early days, and some are still pre-revenue.
There will certainly be electric vehicle success stories, but it's almost equally certain that not every EV stock will end up in that category.
It's hard to predict the future and know for sure who the eventual winners will be. But here's why three Fool contributors are focused on Churchill Capital IV (Lucid Motors) ( NYSE:CCIV), NIO ( NYSE:NIO), and Ford Motor ( NYSE:F) instead of Lordstown.
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