Alright, let’s dive into the madness that is the world of EV penny stocks. Brace yourself; it’s a wild ride.
Okay, so we just threw a list out there into the cosmos about these electric vehicle (EV) penny stocks. Yeah, those tricky devils flitting around from $10 to under a buck. And now, we’re zooming into Plug Power Inc. (hey there, NASDAQ:PLUG), asking where it chills in the EV penny realm.
Everybody’s going bananas over EVs. Even with the US and its tariff dance led by good ol’ Trumpy Trump. EV sales still soared up 29% in Q1. That’s 4.1 million rides flying off the shelves in March alone. Crazy, right?
China – love it or hate it – still killing the EV game. They saw a whopping 36% jump in EVs compared to last year. Just March brought over a mill units sold. It’s like they’re hoarding EVs or something. Meanwhile, North America lagging, inching up 16% this past quarter. But hey, any boost is a win considering Trump’s auto-part tariffs throwing wrenches into the works.
Out of the blue in February? U.S. slammed a 25% tax on cars from Canada and Mexico, then they hit everyone else with even bigger tariffs in March. The prices? You betcha — they’re gonna skyrocket. Considering 40% of US EVs roll in from abroad, this could shake everything up.
Here’s a kicker: most of the EVs sold in the US last year? Assembled right here on home soil. But guess what? Parts come from all over – worldwide scavenger hunt. Now, with China in a trade bone to pick with the US, especially concerning EV battery materials, it’s gonna be chaotic.
And let’s sprinkle some speculation on this sundae — the new gang in town might yank those EV sale incentives that Biden set up. What does it mean? Darkness looming over EV sales in the near horizon.
2025 ain’t gonna be a snooze fest in the EV biz, lemme tell ya. Even if new whips are rolling out with sweet, sweet incentives. Those tariffs? Gonna be like a speed bump from hell for automakers, especially given steel and aluminium tax hikes.
But hold your horses, analysts say 2025’s got juicy potential for EVs in the US, thanks to 2024’s high note. And companies riding the EV wave, especially those penny stocks with dreamy discounts? They’re primed to bask in the electric glory.
Now, how’d we whip up our little list? We peeped at companies in the EV gang from ETFs hovering under $10 as of April 16. Picked out ten that hedge funds seem to worship most, even those under a dollar. It’s like ascending a hedge fund popularity ladder, based on data from 1,009 hedge brains in late 2024.
Why do we care about hedge funds’ faves? Simple. Mimic their moves, beat the market. Our quarterly newsletter likes to choose 14 stocks, be it small-cap or big boys, and returns? Off the charts. 373.4%, peeps, since 2014. Crushing benchmarks, thank you very much.
Now let’s zero in on Plug Power Inc. (NASDAQ:PLUG). They’re all about juicing up that hydrogen game for EVs. Stock went wild back in the ’99 – climbed high, then crashed from a dreamy $1498 back in the year 2000. Someone bring tissues.
But don’t count them out yet. H.C. Wainwright, in March, threw a ‘Buy’ stamp on it, targeted at $3. PLUG’s got their hands in tons of pots, commanding the hydrogen fuel cell scene with big buys of liquid hydrogen and a fat stack of fuel cell systems deployed.
Numbers flying around on Plug Power could make you dizzy. Like the global hydrogen fuel cell market, maps out a trip from $5.23 billion in 2025 to $27.49 billion by a future year that feels like sci-fi. Thanks to hotshot customers like Amazon and Walmart, that’s a silver lining.
PLUG just locked down a $1.66 billion loan guarantee from Uncle Sam’s Department of Energy, for beefing up hydrogen plant builds. Revenue’s on a stretchy growth spurt too, expected to jump up 12% in 2025 to $707 million, and losses to shrink like a wool sweater washed in hot water.
In our EV penny drama, PLUG strolls in clutching third place. Yet, as much as we dig PLUG’s potential, AI stocks look like flashier party guests, promising high returns in way less time. Want a pick that’s glittering and running at less than 5x earnings? Peek at our report on the cheapest AI stock.
Thinking about betting your chips? Feast your eyes on our next features: “20 Best AI Stocks To Buy Now” and “30 Best Stocks to Buy Now According to Billionaires.” Whoo, happy hunting!
And yeah, this madness was originally put together over at Insider Monkey. No lawyer needed.
