Which Electric Vehicle Stock Is a Better Buy? By StockNews
© Reuters. Lordstown Motors vs. Lucid Group: Which Electric Vehicle Stock Is a Better Buy?
Electric vehicle stocks, such as Lordstown Motors (RDIE) and Lucid Group (LCID,) might seem attractive to investors, given the recent sell-off this year. But while one company still commands a multi-billion-dollar valuation, the other is grappling with weak fundamentals and a slew of management issues.The electric vehicle (EV) industry is expected to grow at a rapid pace in the upcoming decade, as governments all over the world ramp up their efforts to shift towards clean energy solutions to fight climate change. While still at a nascent stage, the EV space is already attracting both new and legacy automobile manufacturers making this vertical somewhat crowded.
In 2021, EV stocks have trailed the broader markets, after a spectacular run in 2020, making EV stocks contrarian bets right now. Given that the EV industry will benefit from multiple secular tailwinds over the long-term, it might be a good time to expand your portfolio to include EV stocks.
Two EV stocks that have been garnering a lot of attention lately are Lordstown Motors (RIDE) and Lucid Group (LCID). Today I’ll analyze these two stocks to determine which is the better buy right now.
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