Tempted to Buy Lordstown Motors Stock? Ferrari Is the Better Play

A year ago, Lordstown Motors Corp. (NASDAQ: RIDE[1]) was going to be the next big thing. The electric vehicle company had taken over an abandoned General Motors facility and was going to use it to start making electric pickup trucks for the commercial fleet market.

Then-President Trump even displayed its Endurance pickup at the White House to symbolize American ingenuity and progress. In March of 2020, Lordstown Motors merged with a SPAC, DiamondPeak Holdings, to become a public company.

The public loved the deal, and the shares quickly shot up from £10 to more than £30. Executives talked about all the pre-orders they had and discussed putting the people of Lordstown Motors back to work building Endurance trucks instead of Chevy cars. As is so often the case on Wall Street, the next big thing isn’t so big after all.

The pre-orders turned out to be pretty much nonexistent. Lordstown doesn’t have enough money to produce trucks even if it had pre-orders. Then Ford introduced its all-electric F-150 pickup truck.

It’s a lot better than the Endurance, according to analysts who have driven both vehicles. The management team, including the CEO and CFO, quit. The new team is looking for a partner or buyer.

With the insane asylum that is Wall Street still assigning a valuation of almost £2 billion to this shell of a company, you’d have to be crazy to put any cash into Lordstown Motors right now, even though it has fallen back below £10 a share. So what are the best stocks[2] for investors looking to profit off of the explosive rise of electric vehicles and trucks? The answer is right under our noses…

Ford, Stellantis, and Ferrari Are Better EV Stocks

If you want to own one of the best EV stocks[3], just buy Ford Motor Co. (NYSE: F).

Ford plans to invest more than £30 billion in developing electric vehicles over the next several years. It will be the dominant electric pickup truck company, just as it has been the dominant internal combustion pickup manufacturer for a very long time. The Mustang Mach-E SUV is being delivered to customers and is available to order now.

Tempted to Buy Lordstown Motors Stock? Ferrari Is the Better Play

£1.4 Trillion 5G Aftershock

5G is creating a £1.4 trillion aftershock market – and 20 small companies could produce 10X gains by the end of the year.

Tempted to Buy Lordstown Motors Stock? Ferrari Is the Better Play

£1.4 Trillion 5G Aftershock

5G is creating a £1.4 trillion aftershock market – and 20 small companies could produce 10X gains by the end of this year.

The E-Transit van will be available later this year. Ford has developed North America’s largest public charging network with more than 63,000 charging plugs. That number is going to grow every year.

There are no pie-in-the-sky promises – just electric vehicles being built and sold. If you want to buy a leading electric vehicle company, buy Stellantis (NYSE: STLA[4]). This company was created by the merger of Fiat Chrysler with the French car company PSA Group.

The combined company is Stellantis, and it has some of the best car companies on the planet under its umbrella, including Dodge, Chrysler, Jeep, Maserati, Fiat, Peugeot, and several other primarily European brands. All of the brands will be selling electric cars. Stellantis is having an EV day this week to announce its plans for the EV market.

It is also devoting one plant in Europe exclusively to the production of electric vehicles and batteries for the Opel, Vauxhall, Citroen, and Peugeot brands. Maserati has announced that its lineup will be all-electric at some point in the not-so-distant future. It will be a significant player in the electric vehicle market long after Lordstown Motors has been forgotten.

Stellantis is also working on hydrogen fuel cells for the light industrial truck market, so it is exploring all options when it comes to reducing the carbon footprint of its vehicles. But the best of all electric vehicle stock opportunities might be our next one… If you want to invest in electric cars that the whole world will be talking about, buy a share of Ferrari NV (NYSE: RACE[5]).

Right now, Ferrari has a hybrid car that can use either electric or internal combustion engines. In fact, the car can only go in reverse when in electric mode and can sustain speeds of 85 miles per hour. The car will default to EV mode every time it’s started, so the operator will then have to select the internal combustion engine.

The regular engine is still very much a Ferrari product capable of putting out 986 horsepower when running with the electric engine. That will go a little faster than 85 miles per hour. By 2025, Ferrari will introduce an all-electric car.

It won’t be some slimmed-down model either. Ferrari builds supercars, so it’s a safe bet that its version of an electric vehicle will be a low-slung, super-fast EV that turns heads wherever it goes. Of course, EV stocks like these have potential explosive futures, but tech is a “big tent” investing discipline, and investors would do well to consider everything tech has to offer[6] – cybersecurity, robotics, AI, the blockchain, and 5G.

In fact, the nationwide 5G rollout has played a part in creating what Tech Investing Specialist Michael Robinson calls a “5G Aftershock” market[7] that’s expected to grow 70% a year – more than double the rate of 5G itself. Michael believes the magnitude of this technology’s impact could rival the Internet itself – and here you can get the chance to learn about five companies that could profit the most[8]. Follow Money Morning on Facebook and Twitter.[9][10]

Tempted to Buy Lordstown Motors Stock? Ferrari Is the Better Play

Three Top EV Stocks to Buy

Get three of the best EV stocks to buy now – plus two to avoid completely.

Tempted to Buy Lordstown Motors Stock? Ferrari Is the Better Play

Three Top EV Stocks to Buy

Get three of the best EV stocks to buy now – plus two to avoid completely.

Tempted to Buy Lordstown Motors Stock? Ferrari Is the Better Play

7 Stocks to Sell Immediately

These popular stocks have hit their peak – get their tickers so you can take your profits and move on.

Tempted to Buy Lordstown Motors Stock? Ferrari Is the Better Play

7 Toxic Stocks to Sell Immediately

These popular stocks have hit their peak – get their tickers so you can take your profits and move on.

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References

  1. ^ RIDE (moneymorning.com)
  2. ^ best stocks (moneymorning.com)
  3. ^ best EV stocks (moneymorning.com)
  4. ^ STLA (moneymorning.com)
  5. ^ RACE (moneymorning.com)
  6. ^ everything tech has to offer (pro.moneymappressinfo.com)
  7. ^ “5G Aftershock” market (pro.moneymappressinfo.com)
  8. ^ here you can get the chance to learn about five companies that could profit the most (pro.moneymappressinfo.com)
  9. ^ Facebook (www.facebook.com)
  10. ^ Twitter (twitter.com)
  11. ^ Join the conversation.

    Click here to jump to comments… (moneymorning.com)