5 Best Lithium Stocks to Buy Now

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1. Tesla, Inc. (NASDAQ: TSLA)

No of HFs: 68

Total Value of HF Holdings: $12.3 Billion

Topping the list of 11 best lithium stocks to buy now is Tesla, Inc. Shares of TSLA rallied 340% over the last twelve months.  In 2020, the company delivered 499,500 vehicles beating the consensus estimate of 481,261.

A total of 58 hedge funds tracked by Insider Monkey were long TSLA at the end of December 2020, compared to 67 in the third quarter. Ken Griffin’s Citadel Investment Group is the biggest stakeholder in TSLA, with 28 million shares worth $20 billion.

 Mott Capital Management mentioned TSLA in its 4Q 2020 investor letter:

“The significant gains in 2020 were attributable to Tesla, which surged by more than eightfold. It seems hard to believe, but the stock made up 6 years of underperformance and then some all-in-one year. I will be honest, I’m not sure we will have an experience like it again. The stock reached a very high concentration level in the portfolio given the outsized gains, which I was not always comfortable with given the stock’s volatility. The run-up in price led to the stock being trimmed back on a few occasions when it reached 20% of the overall portfolio value.

Tesla has surged roughly another 20% in 2021, which has led it to hit 20% of the portfolio value. As a result, I trimmed the position again. It now accounts for about 15% of individual portfolios as of this letter. If it should reach 20% again, I will assess the situation and manage the risk accordingly.”

Please also see Top 10 Car Company Stocks to Invest In and 15 Fastest-Growing Fintech Companies.

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