Fund Manager Says He 'Would Avoid' Tesla, But Recommends These 'Phenomenal' Auto Stocks: 'Race To Develop EVs Is Going To Be Profitless...'
Portfolio Pulse from Benzinga Neuro
Fund Manager Freddie Lait from Latitude Investment Management advises against investing in EV stocks like Tesla due to profitability concerns. He recommends focusing on established automakers such as Ferrari, General Motors, Volkswagen, and BMW, highlighting Ferrari's strong business performance and future plans for an electric vehicle.
March 05, 2024 | 2:04 am
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POSITIVE IMPACT
BMW is recommended by Lait for investment, highlighting the company's potential in the evolving EV market.
Lait's recommendation of BMW, alongside other established automakers, for its potential in the EV market suggests a positive impact on BMWYY's stock in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
General Motors is recommended by Lait as a focus for investors, indicating a positive outlook for the company.
Lait's recommendation to focus on established automakers like GM, due to their significant strides in the EV market, suggests a positive short-term impact on GM's stock.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Ferrari is praised by Freddie Lait for its strong business performance and plans to launch an electric vehicle in 2025.
Lait's positive outlook on Ferrari, especially its revenue increase and future EV plans, could attract investor interest, potentially boosting its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Volkswagen is among the established automakers recommended by Lait, indicating potential growth due to its EV initiatives.
Lait's inclusion of Volkswagen in his recommendations, due to its efforts in the EV space, suggests a positive outlook that could benefit VWAGY's stock in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Freddie Lait advises against investing in Tesla due to concerns over the profitability of the EV market.
Lait's skepticism about the EV market's profitability, including Tesla, suggests potential negative sentiment among investors, possibly affecting Tesla's stock in the short term.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90