Looking to invest in the electric vehicle sector? Here are three stocks to consider
If you're looking to invest in the expanding electric vehicle market, this portfolio manager says investors should stick to the established manufacturers as opposed to start-up EV companies.
Speaking with BNN Bloomberg’s Amber Kanwar on Wednesday, Will McDonough, founder and lead portfolio manager at EMG Advisors, said automakers who already have a large share of the auto sector will be the most competitive players in the electric vehicle transition as they have the most resources.
“People find better standing with incumbents that have existing dealer networks, existing servicing networks, existing supply chains and have been doing this for a very long time,” McDonough said.
He recommended Tesla Inc. (TSLA), General Motors Co. (GM) and Li Auto Inc. (LI) as his three hot picks within the electric vehicle market.
McDonough, his family and his investment banking clients do not own any shares mentioned above, however his firm does.
Check out the full video at the top of the article to learn more.
Speaking with BNN Bloomberg’s Amber Kanwar on Wednesday, Will McDonough, founder and lead portfolio manager at EMG Advisors, said automakers who already have a large share of the auto sector will be the most competitive players in the electric vehicle transition as they have the most resources.
“People find better standing with incumbents that have existing dealer networks, existing servicing networks, existing supply chains and have been doing this for a very long time,” McDonough said.
He recommended Tesla Inc. (TSLA), General Motors Co. (GM) and Li Auto Inc. (LI) as his three hot picks within the electric vehicle market.
McDonough, his family and his investment banking clients do not own any shares mentioned above, however his firm does.
Check out the full video at the top of the article to learn more.
