Small wonder Tesla (NASDAQ: TSLA) is planning a five-for-one stock split: its stock has skyrocketed more than 270% since the start of the year! With that in mind, we asked three of our Motley Fool contributors what automotive industry-related stocks they'd recommend instead. Scott Levine (Dana Incorporated): Given how pricey Tesla looks right now, investors with an appetite for an electric vehicle (EV) stock -- in addition to a bargain -- would be better-suited to look elsewhere.
China's Contemporary Amperex Technology Co Ltd (CATL), a Tesla supplier, is developing a new type of electric vehicle (EV) battery that contains no nickel or cobalt, a company executive said on Saturday. Nickel and cobalt are key ingredients in the batteries that power EVs. Battery makers from Japan's Panasonic Corp to South Korea's LG Chem are lowering the use of expensive cobalt in their nickel-cobalt-aluminium (NCA) batteries or nickel-cobalt-manganese (NCM) batteries.
Friday was a pretty quiet day for the Nasdaq Composite (NASDAQINDEX: ^IXIC). Investors are largely waiting to see whether the favorable trends that have helped the Nasdaq claw back huge losses during the bear market in February and March will continue to lift stocks toward new all-time highs. Tesla (NASDAQ: TSLA) got another boost as the stock analyst community weighed in on the electric vehicle manufacturer.