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Electric car manufacturer stocks are absolutely exploding right now.
The leader – Tesla Inc. (NASDAQ: TSLA) – is up 220% year to date.
But did you know that three smaller (and lesser known) electric vehicle stocks are up even more?
That's right.
Nio Inc. – ADR (NYSE: NIO) is up 280%, Workhorse Group Inc. (NASDAQ: WKHS) is up 421%, and Nikola Corp. is up a whopping 436% so far this year…
If you put $10,000 into each of these companies at the start of 2020, you'd already be sitting on $143,700.
So now, the question now becomes: "Are these stocks overvalued, or are they just getting started?"
Combined, these three companies have a $38 billion market cap.
That's about 15% of Tesla's $255 billion market cap. Arguably, they could have a long way to go to catch up to TSLA. The risk is always that they could drop after experiencing such a massive run up so far in 2020.
During this Markets Live broadcast today, Money Morning trading expert Chris Johnson told viewers what he thinks about these three electric car stocks, using his unique technical analysis approach to trading.
Here's what Chris had to say…