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Top EV Stocks to Watch This Week

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Written by Timothy Sykes
Updated 1/4/2023 9 min read
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2020’s top EV stocks have been trending down since February…

It’s not for a lack of movement in the sector. Ford (NYSE: F) recently reached a five-year high after tripling its SUV sales and has an electric F-150 in the works. General Motors (NYSE: GM) pledged to go all-electric by 2035. Volkswagen AG (OTCQB: VWAGY) is taking on Tesla in Europe.

These mainstream stocks have been soaring. At the same time, the top EV stocks of 2020 have taken a beating.

Are EV stocks a good buy?

2020’s hottest sector still makes the news. And big volume still comes in when it does.

That’s what I prepare my Trading Challenge students for.

It’s not about guessing what’s going to move in advance. It’s about knowing these stocks — and being prepared when they do move.

7 EV Stocks to Watch

Preparation is why I’m giving you this list of EV stocks to watch.

Let’s be clear — I’m not telling you which EV stocks to buy. I don’t know that, and neither does anyone else.

I’m sharing stocks that have moved in the past. And I’m telling you why I think they can move again.

Top EV Stocks to Watch This Week #1: AYRO Inc (NASDAQ: AYRO)

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AYRO made my last EV penny stock watchlist…

What has it done to rate another mention? Not much — but the right catalyst could spark new action.

It’s bounced around the $4­–$7 range for months. It hasn’t decided on a direction. Shorts have been hovering.

In July 2020, I bought and sold AYRO in the low $3s.* The next trading day it ran into the $8s. That’s OK. I often sell too soon.

This stock has run in the months since … and dropped as well.

 

Top EV Stocks to Watch This Week #2: American Battery Metals Corp (OTCQB: ABML)

EV battery stocks were a hot play when the sector was running…

I stuck to morning panic dip buys then. Here’s a Tim Alert from December**…

ABML chart with entries and exits
December 23 intraday, morning panic — courtesy of StocksToTrade.com (Past performance is not indicative of future results.)

It wasn’t a perfect trade. I didn’t nail the bottom and I sold too soon. But I followed my plan, and still made a $5,521 profit.*

Now, ABML’s back in the news.

Uplisting to the Nasdaq is just the most recent catalyst…

The market wants to see results these days. ABML might be ready to start providing them.

 

Top EV Stocks to Watch This Week #3: Enerkon Solar International Inc (OTCPK: ENKS)

ENKS was on a watchlist I sent to my Trading Challenge students after it ran in May…

It ran on news of a major order for a COVID-19 insta-test. And it’s a solar company.

So what’s it doing on an EV watchlist?

Right when the EV craze was kicking off, ENKS bought into a company that makes EV batteries. Nothing happened for a while…

Then in February, the stock went parabolic.

Stocks like this have a knack for releasing news when the market’s receptive. This might not be the last we’ve seen of ENKS.

 

Top EV Stocks to Watch This Week #4: SPI Energy Co., Ltd. (NASDAQ: SPI)

If you followed me during the golden days of the first EV boom, you might remember SPI.

In September, SPI absolutely blew up. It went up 4,000% after announcing its new EV wing, EdisonFuture.

But in the months since, no Tesla-killer moment came for SPI.

The stock is back near penny stock levels. There’s no telling if SPI has another trick in its bag.

 

Top EV Stocks to Watch This Week #5: Kandi Technologies Group Inc (NASDAQ: KNDI)

After a brief return to penny stock land, KNDI is perking up.

Back when EVs were all speculation, it had some big runs. The last few months have been choppy, with decent spikes on news.

It’s a local stock in one of the world’s biggest EV markets, China. I wouldn’t underestimate this one.

 

Top EV Stocks to Watch This Week #6: ElectraMeccanica Vehicles (NASDAQ: SOLO)

Sometimes Tesla sympathy plays can be random.

Take this EV car stock’s 7% spike in June. Apparently, it was all due to a Morgan Stanley endorsement of Tesla … which mentioned rising gas prices.

And did I mention that it’s run before?

Gas prices have been rising the whole time that EV companies’ stocks have been falling. It didn’t make a difference before now.

That’s the reason we have watchlists — you never know when a stock will pop. But you want to be prepared for it.

 

Top EV Stocks to Watch This Week #7: Ideanomics (NASDAQ: IDEX)

It’s been three months since I last spotlighted IDEX … It’s still chopping its way down.

That’s not so bad for the patterns I teach my Challenge students. I tell them to look for volatility — and this stock has it.

If you don’t know how to trade volatility, check out my no-cost “Volatility Survival Guide.” You’ll need it for some of the moves stocks like this make. IDEX has had some small runs, even as it trended lower.

This stock still moves on news, like its recent entry into the ranks of EV charging stocks.

 

Get the Stocks I’m Watching Delivered to Your Inbox

EV stocks have been hot… but I don’t play favorites.

I stay aware of the trends. The stocks on this list are just my best idea of EV stocks that could run in the future…

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If you’re serious about trading, you need to be putting this work in too.

I don’t want you to copy me — I want you to learn from me and start making your own picks.

Sign up for my no-cost weekly watchlist here.

You can also check out updated watchlists every trading day…

Conclusion

Creating watchlists is the first step I teach my Trading Challenge students. But there’s a lot more to becoming a self-sufficient trader.

I want to share the process with you — that’s why I became a teacher.

You should know this isn’t easy. Thinking that way is why most traders lose. It’s also why I don’t accept everyone in my Trading Challenge.

If my process makes sense to you — and if you’re ready to work — I’d love to share the next steps.

Apply to my Trading Challenge here.

What do you think about the EV sector right now? How does my watchlist match up with yours? Let me know in the comments — I love hearing from my readers!

Disclaimers

*These results are not typical. Individual results will vary. Most traders lose money. These top traders have the benefit of many years of hard work and dedication. Trading is inherently risky. Always do your due diligence and never risk more than you can afford to lose. I’ve also hired Jack and Kyle to help in my education business.

**Never attempt to copy or mirror the trades discussed on this website or in the Breakouts & Breakdowns alert service. Attempting to do so may result in substantial financial losses. Breakouts & Breakdowns alerts are not provided in real-time. For that reason, it is highly unlikely you will be able to buy the stocks at the same entry price, or sell the stocks at the same exit price, to achieve the same or similar profits obtained by the instructors.

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Author card Timothy Sykes picture

Timothy Sykes

Tim Sykes is a penny stock trader and teacher who became a self-made millionaire by the age of 22 by trading $12,415 of bar mitzvah money. After becoming disenchanted with the hedge fund world, he established the Tim Sykes Trading Challenge to teach aspiring traders how to follow his trading strategies. He’s been featured in a variety of media outlets including CNN, Larry King, Steve Harvey, Forbes, Men’s Journal, and more. He’s also an active philanthropist and environmental activist, a co-founder of Karmagawa, and has donated millions of dollars to charity. Read More

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* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

Millionaire Media 66 W Flagler St. Ste. 900 Miami, FL 33130 United States (888) 878-3621 This is for information purposes only as Millionaire Media LLC nor Timothy Sykes is registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. Millionaire Media LLC and Timothy Sykes cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Millionaire Media LLC and Timothy Sykes in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Millionaire Media LLC and Timothy Sykes accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.

Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”