Despite a rocky year for the industry due to the COVID-19 pandemic, auto stocks have recently been among the best-performing stocks in the market. We’ll look at the eight best auto stocks to invest in.
1. Tesla, Inc. (NASDAQ: TSLA)
Tesla is a company that designs and manufactures electric vehicles as well as clean, sustainable energy solutions and products like solar panels and battery energy storage units. With a market capitalization of $767 billion, the company is ranked second on our list of the 11 best auto stocks to invest in.
Tesla, Inc. reported an EPS of $1.45 in the second quarter of 2021, beating estimates by $0.47. The company’s revenue for the quarter was $11.96 billion, up 98.1 percent year over year and $559.33 million higher than analysts’ expectations.
At the end of the second quarter of 2021, 60 hedge funds in the database of Insider Monkey held stakes worth $9.29 billion in Tesla, Inc. (NASDAQ: TSLA).