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Barchart
Barchart
Mohit Oberoi

2 High-Risk EV Penny Stocks That Could Be Multibaggers for Investors

Lucid Motors Polestar Lucid LCID SPAC Lucid Air

The ongoing volatility in U.S. stock markets has spelled serious trouble for many growth stocks, especially in the electric vehicle (EV) space. While the wider markets are still up substantially on a YTD basis, many startup EV companies have fallen steeply, and some are now trading at their all-time lows.

The SEC defines penny stocks as those shares that trade below $5. With a few exceptions, like Fisker (FSR), almost all the EV companies that went public through special purpose acquisition company (SPAC) mergers are now penny stocks.

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