5 Best EV Stocks for the Long Term

3. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 60    

Tesla, Inc. (NASDAQ:TSLA) is the biggest EV brand in the world. After better-than-expected third quarter earnings, investors have helped push the valuation of the firm to over $1 trillion, more than the combined worth of the whole industry.

Loup Ventures analyst Gene Munster recently suggested that there is even further upside potential in Tesla, Inc. (NASDAQ:TSLA) shares, noting the firm could be worth $2.5 trillion based on growing sales estimates and expanding multiples. 

At the end of the second quarter of 2021, 60 hedge funds in the database of Insider Monkey held stakes worth $9 billion in Tesla, Inc. (NASDAQ:TSLA).

Here is what Baron Partners Fund has to say about Tesla, Inc. (NASDAQ:TSLA) in its Q1 2021 investor letter:

“Tesla, Inc. designs, manufactures, and sells fully electric vehicles, solar products, energy storage solutions, and battery cells. The stock fell during the quarter as a result of general market dynamics and a potential production slowdown due to parts shortages. A refreshed S/X and China Model Y ramp could also have a negative impact on margins in early 2021. We anticipate strong growth and improved margins driven by new production capacity, manufacturing efficiencies, localization of its manufacturing and supply chain, and maturation of Tesla’s full self-driving technology.”