5 Best Lithium and Phosphate Stocks to Buy Now

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1. Tesla, Inc. (NASDAQ: TSLA)

Number of Hedge Fund Holders: 62    

Tesla, Inc. (NASDAQ: TSLA) is a firm that makes and sells electric vehicles and clean energy equipment. It is headquartered in California and is ranked first on our list of 10 best lithium and phosphate stocks to buy now. As the largest EV firm in the world, the firm consumes a lot of EV batteries that use lithium compounds. A recent statement by the CEO of the firm, Elon Musk, affirmed that the EV maker was planning a long-term future of lithium batteries. The firm beat market expectations on earnings per share and revenue in the second quarter. 

On August 3, investment advisory Piper Sandler maintained an Overweight rating on Tesla, Inc. (NASDAQ: TSLA) stock with a price target of $1,200, noting the encouraging delivery results posted by the firm earlier and EV demand rising across the globe. 

At the end of the first quarter of 2021, 62 hedge funds in the database of Insider Monkey held stakes worth $10 billion in Tesla, Inc. (NASDAQ: TSLA), down from 68 in the previous quarter worth $12 billion.

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.” 

You can also take a peek at 10 Best Silver Mining Stocks to Invest In and 10 Best Nickel Stocks to Buy Now.

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