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Penny Stocks To Watch As Electric Vehicles Charge The Market

Electric Vehicle Stocks Are Red Hot In January 2021

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EV Penny Stocks Surge In January

Electric vehicle penny stocks are some of the most popular in the stock market this month. There are a few reasons why both institutional and retail investors alike are checking these stocks out. These companies operate in the electric vehicle space either directly or indirectly. Within the industry, some companies produce cars, other companies produce battery materials, and there is a wide range of ancillary businesses working within the industry. 

In the past few months, interest surrounding EV penny stocks has shot up due to Joe Biden’s election win. Biden has stated that he wants to bring the U.S. toward being completely renewable energy-dependent within the next decade. This could include potential subsidies for EV manufacturers and those who purchase these vehicles. Additionally, the rise of companies like Tesla Inc. (NASDAQ: TSLA) and Nio Inc. (NYSE: NIO) has brought a new sense of confidence in the EV market outlook. 

Now, certain mining penny stocks also have a relation to the EV industry. The most important part of any EV car is the battery storage system. This utilizes many base metals that are mined around the world and specifically in North America. While not all mining is tied to electric vehicles, there are quite a few companies supplying materials to the EV market. Mining penny stocks also tend to be less volatile at times, which can benefit some investors. With all of this in mind, let’s take a look at a few EV penny stocks you might’ve missed this month.

Electric Vehicle Penny Stocks to Watch 

Polymet Mining Corp. 

One of the mining penny stocks that we’ve discussed recently is PLM stock. Based in the U.S., Polymer holds claim to the NorthMet Deposit located in the Mesabi Range. The company explores and mines copper, nickel, gold, silver, cobalt, and certain platinum base metals at this project. This area covers over 4,300 acres and offers a wide breadth of mineralization throughout it. Within the NorthMet Deposit, the company has a claim to the Duluth Complex mine. This mine is specifically in use for the withdrawal of copper ore. Due to advancements in mining copper that have come out in the past decade or so, the company has been able to mine much more metal. However, now, Polymet is waiting on several approvals concerning a water permit for the land. 

The company states that it commits to ensuring the environmental sustainability of its mining operations. It is now a waiting game to hear back from the various agencies in Minnesota that are in charge of environmental permitting. This includes the Minnesota Pollution Control Agency as well as the Minnesota Center for Environmental Advocacy.

One thing to keep in mind is that the time frame for this is relatively unknown. Although things are moving in the right direction, permitting usually takes quite a bit of time to complete. In the meantime, however, Polymet still has a wide range of mining operations that should contribute to revenue generation. With some of its metals going into EV-related products, PLM could be an interesting penny stock to watch. 

American Battery Metals Corp.

American Battery Metals Corp. is another penny stock that we’ve been discussing for quite some time. Based in the U.S., as the name suggests, ABML works in the battery metals industry. This includes the recycling and production of lithium-ion batteries at its Nevada facility.

The company states that it aims to become the leading supplier of battery storage materials to the EV and consumer battery markets. In the past month, shares of ABML have shot up by over 500%, and in the past six months, shares are up by over 1,000%. This is a staggering and also very speculative gain that investors should take note of. It seems as though any news about the EV market highly influences ABML stock. 

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A few weeks back, the company announced that it had reached a milestone at its Fernley, NV battery recycling plant. With this, it has begun a 12-acre pilot program to begin recycling lithium-ion batteries. Additionally, the company signed a construction and design firm and secured water rights for the location. When this site is fully operational, the goal is to recycle as much as 20,000 tons of feedstock per year. There’s no doubt that traders remain focused on cheap electric vehicle stocks. Though it doesn’t manufacture the vehicles, we’ve seen plenty of the companies within the supply chain benefit from the surge in industry expansion.

United States Antimony Corp. 

Shares of UAMY stock are up by almost 80% in the past month. Since late September, shares are up by over 200%, which is another solid and albeit speculative gain. The company works as a mining business, including transportation, milling, smelting, and selling several materials. US Antimony has several mining operations underway in North America, including the Bear River Zeolite and Precious Metals facility. The company produces antimony oxide, antimony metal, gold, silver, and zeolite. These have a wide variety of applications. 

This includes battery storage, cathode ray tube production, and more. Because of this, the company has found a trend in correlation with the EV market. Because of this, many investors categorize it as both an EV and rare-earth penny stock. With Joe Biden being sworn into office this week, the hope is that companies like UAMY could continue to grow into the future. Obviously, it will take some time for business to pick up with this news. For this reason, UAMY could be one of the ancillary EV penny stocks to watch right now.

Electric Vehicle Penny Stocks Charge Up The Market

Thanks to big advancements from some market leaders, EV fever has taken hold of the stock market. We’ve watched countless electric vehicle penny stocks return explosive gains that turned stocks under $5 into ones that stand toe-to-toe with some of the industry behemoths. In light of this hype, it’s important to keep your trading strategy in mind instead of going off course and letting emotion dictate your trading.

What’s more, is that now could be a time to start thinking outside the box. In this article, we discussed companies that may have some exposure to this industry. However, none of them actually provide the end product. Keep things like this in mind when looking for other EV penny stocks for your watch list.

By D. Marie

Growing up in the Tri-State area, Wall Street is in my blood. I'm not one to sit and wait, I'm always on the move to find the next big thing and be first to report. I like to focus on any sector that's hot and be at the ground floor of a market boom.

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