1. Nikola Corporation (NASDAQ:NKLA)
Price: $0.54
Trading Volume: 15,096,679
No. of hedge fund owners: 10
Major EV and electric solutions player, Nikola Corporation (NASDAQ:NKLA), offers an intriguing investment opportunity for investors looking for a low-price high volume stock to buy. Being a pivotal company within the enticing EV industry, it allows investors to enter the EV space without significant price impacts. Nikola has revolutionized the heavy transportation industry through unique sustainable solutions that reduce environmental impact. It offers a heady mix of product lineups including the Nikola Tre BEV and Tre FCEV, targeting short-haul and long-haul freight operations, respectively.
Nikola Corporation (NASDAQ:NKLA) has been robust with its strategic approach, building market presence and product offerings. In August 2022, the company acquired battery supplier Romeo Power, looking to enhance its battery production capabilities and cut down on supply chain dependencies. This strategic move was a step forward to vertically integrate its supply chain and improve cost efficiencies. Towards Q2 of 2024, the company recorded its strongest topline ever, with revenues of $31.3 million, a brilliant 318% increase from the first quarter. Nikola has also created alternative revenue streams through the initial sale of regulatory credits.
As regulations and customers call for more sustainable solutions, the industry is expected to keep growing exponentially in the next few years. Nikola Corporation (NASDAQ:NKLA) sits in the heart of opportunities with its recent strategic performance and offering a high-reward potential to investors as one of the best low-priced stocks. The stock’s beta over a five-year monthly period stands at 1.97, showing higher volatility compared to the broader market. Nikola also has an edge over its competitors due to its focus on hydrogen fuel cell technology. The product segment provides longer ranges and faster refueling times compared to traditional battery-electric vehicles, catering to long-haul transportation. The successful scaling of its hydrogen fuel cell vehicle production demonstrates its operational progress. Additionally, the emphasis on the establishment of alternative revenue streams through regulatory credits can drive financial stability.
Nikola Corporation (NASDAQ:NKLA) presents a strong outlook to tackle challenges and reap the opportunities of an ever-growing EV industry. With its cutting-edge products, recent financial gains, and promising growth trajectory, it is one of the best low-price high volume stocks to buy now for high-reward opportunities in the EV market.
Overall Nikola Corporation (NASDAQ:NKLA) ranks first on our 10 low price high volume stocks to buy now. While we acknowledge the potential for NKLA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NKLA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stock To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.
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