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StockNews.com
StockNews.com
Business
Pragya Pandey

1 EV Stock to Buy That Is Not Tesla

VWAGY electric vehicle Porsche Volkswagen

Given its steady growth, electric vehicle (EV) giant Tesla, Inc. (TSLA) has secured a position in many investors’ portfolios. However, the stock has plunged 14.9% year-to-date to close its last trading session at $299.68. In addition, the stock is currently trading at a premium valuation.

TSLA’s forward Price/Sales multiple of 11.02x is 1113.8% higher than the industry average of 0.91x. Also, in terms of its forward Price/Book, the stock is trading at 22.16x, 792.5% higher than the industry average of 2.48x.

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