Tuesday, July 28, 2020

EVs in the S&P 500

Tesla (NASDAQ:TSLA) could get the call at anytime from S&P for its inclusion in the S&P 500 Index. While that development may already be baked into Tesla's share price, the S&P inclusion could throw a spotlight back on the sizzling EV sector. 

Those companies looking to make a splash in EVs include

  • Nikola Motors (NASDAQ:NKLA), 
  • Nio (NYSE:NIO), 
  • Fisker (NYSE:SPAQ), 
  • Rivian (RIVN), 
  • Kandi Technology (NASDAQ:KNDI), 
  • Workhorse Group (NASDAQ:WKHS), 
  • Argo AI (backed by Ford (F)), 
  • Plug Power (NASDAQ:PLUG) and 
  • Alibaba (NYSE:BABA)-backed Xpeng Motors. 
Of course, major automakers like BMW (OTCPK:BMWYY), Nissan (OTCPK:NSANY), Ford (F) and Volkswagen (OTCPK:VWAGY) are also investing heavily in EVs, while General Motors (NYSE:GM) plans for an all-electric portfolio that will include a Cadillac Lyriq, GMC Hummer, Chevrolet battery-electric pickup and two new Buicks SUVs.

A catch-all investment that also includes AV/EV tech providers like Nvidia (NVDA), Microsoft (NASDAQ:MSFT) and Qualcomm (QCOM) is the Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV), which is up 7.76% YTD.

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