Tesla Charging Standard - Assembly - Salesforce Research
Electric Vehicle Stocks Rise: Tesla, Wallbox Lead the Pack
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It's been an electrifying day so far for electric vehicle stocks. Five of the leaders in the sector are all turning upward, some much so than others. Charging plays like Wallbox (NYSE:WBX) and ChargePoint Holdings (NASDAQ:CHPT) are up, as are Tesla (NASDAQ:TSLA) and two comparative newcomers to electric, legacy automakers Ford (NYSE:F) and General Motors (NYSE:GM).
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keyboard_arrow_down keyboard_arrow_right What is the reaction of NACS's competitors?
businessinsider.com scramble to keep up
teslarati.com pledging to adopt NACS
electrek.co they have to adapt if they want to be able to serve those EV drivers
autonews.com said it would listen to customers and continue to evaluate the market
cnn.com still use the CCS charging standard and have not announced any plans to change
finance.yahoo.com rallied more than 5%
arstechnica.com adding a second set of charging cables to product lines
thedriven.io Tesla has modified its EVs in Australia rather than introduce NACS
techcrunch.com signaled support and shared plans to make NACS connectors available
masslive.com would feel squeezed
thedrive.com Ford and GM, whose switch to NACS indicates they believe access to a broader charging network is more important than maximum charging speed
Wallbox has had the best day so far, up close to 9% at one point in Monday afternoon's trading. The biggest reason for Wallbox's impressive surge is that it announced it planned to add Tesla's North American Charging Standard (NACS) connectors to its line of fast charging tools known as the Supernova line. Wallbox plans to make itself a major name in the charging game, and as such, making sure its systems were compatible with the NACS protocol was a great way to get there.
Wallbox was indeed the big winner today and on several fronts. It's only one of two Strong Buys by analyst reckoning--ChargePoint is the second--and it's also got the highest upside potential. With an average price target of $8.40, Wallbox stock offers investors a 155.32% upside potential. In fact, only one of these five has a downside: Moderate Buy Tesla. Tesla stock comes with a 17.39% downside risk thanks to its average price target of $203.83.