Investment Manager Reveals Surprising Trend in Electric Vehicle Market with Huge Growth Potential
The latest data shows a remarkable surge in used EV sales across the U.S., indicating a shift in consumer behavior towards alternative energy vehicles. As supply outstrips demand, prices for EVs have dropped significantly, making them more accessible to a wider audience.
Despite the longer selling time for used EVs compared to gas cars, models priced between $20,000 and $30,000 are flying off the shelves faster. This trend is supported by a substantial 70% increase in used EV sales in the first half of the year.
On the flip side, major carmakers are scaling back their EV plans due to weakening demand, following the basic principles of economics. However, the job market in the clean energy sector is booming, with 11% growth in 2023, driven by battery-electric vehicles.
Analyzing the stock market, Tesla and Rivian are showing interesting patterns that could present lucrative investment opportunities. Tesla’s recent price consolidation period is acting as strong support, making it a low-risk buy option. Meanwhile, Rivian is following a trading range but has potential for long-term growth.
In summary, the shift towards sustainable energy and EVs is gaining momentum, presenting a promising investment landscape for savvy investors. Keep an eye on Tesla and Rivian as they ride the wave of the evolving market trends. The bigger trend is expected to gather steam in 2025, offering potential for substantial gains in the EV sector.
ETF Summary:
– S&P 500 (SPY): 560 pivotal
– Russell 2000 (IWM): 217-227 current range
– Dow (DIA): 410 support
– Nasdaq (QQQ): 475 area pivotal
– Regional banks (KRE): 57 pivotal
– Semiconductors (SMH): 240 important support
– Transportation (IYT): 50-WMA or 64.50 support
– Biotechnology (IBB): 145-150 new range
– Retail (XRT): 75 support 80 resistance
– iShares iBoxx Hi Yd Cor Bond ETF (HYG): Back to 2022 levels and resistance-but still strong and risk on unless it breaks 78
Overall, the EV market is ripe with opportunities for investors, and understanding the current trends and market dynamics can help you make informed decisions to secure your financial future.