Electric vehicle (EV) stocks such as Workhorse (WKHS) and Lightning eMotors (ZEV) have trailed the broader markets by a significant margin this year. Today I’ll analyze the issues impacting the two EV manufacturers to see which is a better buy the dip stock right now.A pullback in stock prices may allow you to purchase shares of a company at a lower valuation multiple. But investors should carefully consider the reasons behind the decline. For example, several electric vehicle (EV) stocks have underperformed the broader markets in 2021 after a monumental run last year.
Investors were concerned about steep valuations for a majority of these stocks. Alternatively, EV companies based out of China were hit harder due to the ongoing crackdown of the government on entities primarily part of the tech space. But, as the EV space is set to experience stellar growth in the upcoming two decades, investors have the opportunity to identify quality stocks at cheaper prices that can derive exponential returns over the long-term.
Keeping these factors in mind, is Workhorse Group (WKHS) or Lightning eMotors (ZEV) a better EV stock to buy today?