3 EV Penny Stocks Under $4 Making Big Moves Right Now
EV penny stocks have become some of the hottest names this year. This makes sense given the massive push by the Biden Administration to get the U.S. on the right track toward renewable dependence. However, given that we are still so far away from this, there are plenty of penny stocks that could benefit.
This includes both big-name EV penny stocks and smaller, ancillary companies. It’s worth noting that there are plenty of businesses that may not directly work in the EV industry, but they still do have exposure to it. This includes companies such as lithium miners, battery metals recyclers, and companies that produce parts for EVs or charging-related equipment.
In 2021, making an EV-focused penny stocks watchlist could not be easier. There are hundreds of names to choose from, while albeit, only a handful remain very popular. And, as Tesla Inc. (NASDAQ: TSLA) continues to bring in more hype to the EV industry, we will likely continue to see heightened success across the board.[Read More] What Are Penny Stocks? 2 Top Trading Tips for 2021
However, it’s also worth noting that it will take some time. The infrastructure needed to support a full EV-transport system is not yet up to date. Because of this, many businesses are scrambling to get their share. Considering all of these factors, here are three EV penny stocks that you need to know about.
3 EV Penny Stocks to Watch
- American Battery Metals Corp. (OTC: ABML)
- Electrameccanica Vehicles Corp. (NASDAQ: SOLO)
- Ault Global Holdings Inc. (NYSE: DPW)
American Battery Metals Corp. (OTC: ABML)
Shares of ABML stock have been on a tear in the past few weeks. Last week alone, shares of American Battery Metals shot up by around 43%, and by midday today, shares are up again by around 6%. While no major news has come out detailing why this gain could be occurring, there are a few reasons that we could discuss that may explain it.
For one, ABML works as a lithium-ion battery recycler, with some groundbreaking technology in its pipeline. Additionally, the company recently submitted a formal application to uplist onto the NASDAQ exchange. This would be a big deal, but there is still quite a lot of paperwork to be completed.
“We believe listing our common stock on the NASDAQ will improve liquidity, increase our corporate viability in the financial markets, and create shareholder value.
We believe that listing on the NASDAQ is a natural progression for the Company and our shareholders.” Additionally, it is working tirelessly to get its new recycling facility in Fernley, Nevada up to speed.CEO of ABML Doug Cole
Today, the company announced that it has signed into a strategic partnership with Cicle ChargeParks to create a first-of-its-kind centralized service operation for the collection and recycling of electric vehicles.[Read More] Best Penny Stocks To Buy Under $1 On Robinhood Right Now?
The hopes are that this facility will help it to build upon the EV infrastructure ecosystem moving forward. And, partnerships are always very exciting for both the companies and those investing in them. For this reason, ABML stock could be worth adding to your watchlist.
Electrameccanica Vehicles Corp. (NASDAQ: SOLO)
If you’re looking for a pure-play EV stock, Electrameccanica could be one to watch. SOLO is a Canadian producer and manufacturer of EVs with its flagship single-seat electric vehicle platform as its main product.
The company states that this purpose-built vehicle known as the SOLO, could completely revolutionize urban transport and commuting. Additionally, its subsidiary, Intermeccanica, is a high-end specialty vehicle producer with a history spanning more than 60 years.
A few weeks ago, Electrameccanica announced its first-quarter 2021 financial results. It stated that it broke ground on its newest U.S. assembly facility in Mesa, Arizona.
When completed, this facility should have the capacity to push out more than 20,000 SOLOs per year. Additionally, it added more than 10 high-end shopping centers to its retail footprint, bringing its total to twenty retail locations around the nation.
“In the first quarter of 2021, we continued making progress on several major initiatives, including finalizing customer-ready designs, increasing production throughput, optimizing logistics and supply chain management and taking additional steps towards realizing our U.S. assembly facility and engineering technical center.
With the addition of our new COO Kevin Pavlov, we have begun to lay the groundwork for scaled operations for the coming years with a continued focus on enhancing profitability and efficiency.”CEO of Electrameccanica Paul Rivera
While SOLO may be an under-the-radar EV penny stock, the company has large plans to continue growing into the future. Considering that the EV industry has so much room to grow, SOLO stock could be an interesting addition to your penny stocks watchlist moving forward.
Ault Global Holdings Inc. (NYSE: DPW)
Ault Global Holdings is a penny stock that we’ve covered numerous times in the past few months. Up by around 7% at midday, Ault reported some very encouraging Q1 2021 financial results at yesterday’s market close. Before we get into them, let’s take a closer look at what DPW does.
Ault Global is a diversified holding company that works with undervalued businesses to invest in disruptive technology. This includes those working in mission-critical product sectors such as defense/aerospace, industrial, automotive, telecom, biopharma, and more. Additionally, through its licensed lending subsidiary, it offers credit to certain entrepreneurial businesses.
In its first-quarter results, DPW posted revenue up 136% YoY to $13.2 million. In addition, it managed to reduce its net loss of $6.5 million during Q1 2020, to a positive net income of $2.0 million.[Read More] 7 Penny Stocks to Watch With Crypto News Sparking a Market Dip
These are very exciting numbers and show that Ault is growing substantially, and quickly. Additionally, it’s worth noting that the company mines cryptocurrency, which brought in over $130,000 in revenue during the quarter.
At the end of Q1, Ault Global held more than $107 million in cash. While it is not a pure-play EV penny stock, its investments cover a broad range of EV-related businesses. For this reason, it offers exposure to the electric vehicle market, without the large fluctuations that can come with it. Whether this makes DPW stock worth watching, however, is up to you.
EV Penny Stocks Continue to Make Their Mark
As we move further into 2021, there are plenty of EV penny stocks to watch. This includes everything from mining companies to EV producers and more. Because it is so broad, investors of all types can find value in the EV market.[Read More] 3 Biotech Penny Stocks To Watch That Analysts Are Bullish On Today
While it remains a volatile industry, making a list of penny stocks in the EV industry can be a great way to prepare for the future. Considering that there is so much growth left to occur, electric vehicle penny stocks will continue to make their mark.