That said, the company’s losses are growing and went from under $10 million through the first 9 months of 2022 to above $46 million during the same period in 2023. Revenues continue to grow rapidly proving that early demand for its products is strong. ![]() Fundamentally, solid power isn’t a particularly bad stock. Time will tell how those cells perform, but it’s fair to say the company remains on track. In the third quarter, Solid Power delivered sample cells to its automotive partners for qualification. Faster charging, much greater range and higher safety mean if solid-state battery technology succeeds, a lot more people will be buying electric vehicles. Solid-state batteries promise to revolutionize the EV industry. The company is developing solid-state battery cells for application in the EV market. It also has the potential to double very easily. I say that because Solid Power (NASDAQ: SLDP) is the next stock it recommended.Ī note of caution: Solid Power is a penny stock and certainly poses a risk to investors. It’s very evident that Bard believes in the continued potential of electric vehicles. That could easily result in a doubling in 2024 if lithium prices rebound. However, if factors conspire in its favor, Lithium Americas will multiply in price. Lithium prices are volatile, as recent history has shown. So, it’s very easy to see why investing in Lithium Americas remains so dicey. The site is expected to begin producing lithium in 2026. The parent company decided to separate those operations in order to capitalize on the potential of it as a production source. Thacker Pass is located in Nevada and sits on one of the largest lithium deposits on Earth. The company separated its Thacker Pass operations into the current LAC stock very recently. Lithium Americas will be one of the most interesting new energy stocks for years to come. The stock certainly has the potential to double in the next 12 months with continually low lithium prices. Lithium Americas (NYSE: LAC) is bound to pop up on many buy lists for 2024. That’s why more and more investors will look at Tesla’s Optimus AI robots and the company’s potential to reinvent itself further. However, it’s going to continue to be tough because of things like range issues and the availability of fast-charging infrastructure. I’m not suggesting it’s a dying sector by any means. It won’t be as exciting in that regard in the future. The company has established itself as the dominant EV manufacturer. Tesla is investing in energy storage and AI. Total revenue grew by 9% over the same timeframe. Tesla remained fairly transparent in 2023 about its objectives: cost reduction, maximizing deliveries and investing in the company’s future direction.Īutomotive revenue growth hasn’t been particularly impressive. Whether Tesla shares double or not, I can definitely get behind the logic for investing in the stock. So, the stock would have to do better than any Wall Street analyst is currently predicting. Right off the bat, I have to say that it’s going to be tough for Tesla’s stock to double in 2024. I say that because Tesla’s high target price on Wall Street is $380. The second recommendation Bard gave me was Tesla (NASDAQ: TSLA). Those revenues should get stronger as the macroeconomic situation improves in 2024 and businesses spend more on advertising. Meta Platforms is a particularly strong choice because the primary machine of the company, its family of apps, has rebounded. ![]() Many other tech companies are developing hardware, software, apps and other assets that will contribute to the greater development of the metaverse. Next year will see Apple (NASDAQ: AAPL) release its Vision Pro headset. Multiple leading tech firms are also heavily engaged in the augmented reality space. The decision to drop its Facebook moniker in favor of a metaverse-inspired theme is looking smarter and smarter. It continues to get more and more difficult to argue against the company’s 2021 rebrand. Further, Meta Platforms has positioned itself amongst the best metaverse firms moving forward. ![]() Its so-called family of apps is doing well and continues to improve. Meta Platforms is underpinned by several revenue-generating giants in social media platforms Facebook and Instagram. I fully agree with Bard’s recommendation here. Meta Platforms (NASDAQ: META) was the first stock Bard recommended investors purchase in 2024.
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