5 EV Stocks that Will Benefit from Climate Change Bill 2022

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1. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 80

Following the Climate Change Bill, Tesla, Inc. (NASDAQ:TSLA) will again be in a position to offer its buyers tax credit as the US government has removed the limit of granting credit to 200,000 customers. The company had utilized its assigned quota as per the previous law. Certain variants of Tesla Cybertruck, Model 3 are expected to be eligible for the tax credit. However, Tesla Model Y would only qualify if it is classified as an SUV and not a station wagon and if the price of the vehicle is kept under the $80,000 level.

Tesla, Inc. (NASDAQ:TSLA) is facing a significant backlog of orders and committing to delivery by 2023. Experts consider Tesla, Inc. (NASDAQ:TSLA) closest in terms of fulfilling the requirements of the Climate Change Bill related to the procurement of raw materials either from the US or its trading allies.

Fiduciary Management shared its insights on Tesla, Inc. (NASDAQ:TSLA) in its Q1 2022 investor letter. Here’s what the firm said:

“Remarkably, the Nasdaq-100 and Russell 2000 indices are up 6.25% and 3.90% through 3/31/22, respectively, since the war started. Tesla, Inc. (NASDAQ:TSLA) went up 57% from its low on February 24 ($700) to the close on March 29th ($1099), which equates to an advance of $413 billion. To put that in perspective, the 24-trading day gain in Tesla was greater than the entire market value of Walmart, Inc.! Tesla trades for 120 times estimated 2022 GAAP2 earnings, compared to Walmart’s (NYSE:WMT) 21.8 multiple (1/2023 fiscal year).”

You can also take a peek at 10 Stocks To Buy According to William Von Mueffling’s Cantillon Capital Management and 10 Medical Marijuana Stocks To Buy Now.

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