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5 Best Electric Car Stocks To Buy Now

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In this article, we will discuss the 5 best electric car stocks to buy now. If you want to explore similar stocks, you can also read 15 Best Electric Car Stocks To Buy Now.

5. Rivian Automotive, Inc. (NASDAQ:RIVN)

Number of Hedge Fund Holders: 30

Rivian Automotive, Inc. (NASDAQ:RIVN) is one of the most promising electric vehicle companies in the world and is poised to disrupt the traditional automotive industry. The company has some of the most advanced EV technologies in the industry and its electric pickup trucks, the R1T and R1S, are among the most next-gen battery-electric trucks on the market. Rivian Automotive, Inc. (NASDAQ:RIVN) is ranked high among the best electric car stocks to buy now.

On November 9, Rivian Automotive, Inc. (NASDAQ:RIVN) posted earnings for the third quarter of fiscal 2022, in which the company beat EPS estimates by $0.26. The company’s revenue for the quarter amounted to $536 million, up 53,500% year over year.

On November 29, Evercore ISI analyst Chris McNally took coverage of Rivian Automotive, Inc. (NASDAQ:RIVN) with an In Line rating and a $35 price target.

At the end of Q3 2022, 30 hedge funds held stakes in Rivian Automotive, Inc. (NASDAQ:RIVN) worth $1.96 billion. This is compared to 35 positions in the previous quarter with stakes worth $1.59 billion. As of September 30, Coatue Management is the top investor in the company and has a stake worth $644.95 million.

Here is what Baron Funds had to say about Rivian Automotive, Inc. (NASDAQ:RIVN) in its third-quarter 2022 investor letter:

“Rivian Automotive, Inc. (NASDAQ:RIVN) designs, manufactures, and sells consumer and commercial electric vehicles (EVs). Shares of Rivian were up 28% in the third quarter driven by second quarter production that beat expectations, a new partnership with Mercedes Benz, and the positive potential impact of the recently announced Inflation Reduction Act on accelerating broader EV adoption. While Rivian continues to be impacted by supply-chain issues that are causing delays in its production ramp, it is addressing the challenges by diversifying its supply chain to alleviate shortages while also consolidating the number of variants in development to reduce cash burn (the company guided that current cash will be enough to support the company’s future platform launch R2 in 2025). The company also recently reported stronger than-expected third quarter production results while reiterating its annual guidance of producing 25,000 units. As semiconductor shortages ease, we believe the company will be able to rapidly ramp its production. While we retain conviction in the shares given the company’s vision, product positioning, relationship with Amazon.com, and strong balance sheet, we have reduced the size of our position.”

Follow Rivian Automotive Inc. / De (NASDAQ:RIVN)

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The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

The best part? You can discover everything about this company and its groundbreaking technology right now.

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