Electric Vehicle (EV) stocks ,such as Workhorse (WKHS) and Lightning Motors (ZEV), are trading significantly below their all-time highs. While their stocks might seem attractive to contrarian investors, some stocks remain high-risk bets given steep valuations and uncertainties surrounding their order books.Most investors looking to gain exposure to the electric vehicle space will know about the usual suspects such as Tesla (NASDAQ:TSLA) and NIO (NIO). However any rapidly expanding market will attract a slew of other players that are poised to grow at an enviable pace.
The shift towards clean energy solutions, including electric vehicles EVs, are forecast to gain pace in the upcoming decade making it attractive to long-term investors looking to beat the broader market. Companies are expected to pump in billions of dollars to build an industry that will be supported by governments all around the world.
Keeping these factors in mind, let’s take a look at two relatively newer players in Workhorse (WKHS) and Lightning eMotors (ZEV) to see which is a better stock right now.