Wall Street Expects This EV Stock Under $10 to Triple

Outside of industry leader Tesla (TSLA), it's been a tough year for electric vehicle (EV) stocks. Rising competition and softer consumer demand have presented stiff challenges for EV start-ups, and an ongoing price war has pressured margins across the industry.

Heading into 2024, though, a more supportive macroeconomic backdrop - highlighted by cooling inflation and expected Fed rate cuts - could give beaten-down EV names some much-needed relief. Here's a closer look at one low-priced EV stock that analysts expect to surge over the next 12 months.