Meet the Up-and-Coming EV Stock That Could Crush the Market

The past few weeks have been rough for EVgo (NASDAQ: EVGO), and by extension, for its shareholders. The stock's now down more than 60% from its late-October peak, and touched a multimonth low just a few days ago.But the move isn't exactly surprising. President Donald Trump is not as supportive of electric vehicles as many expected Kamala Harris to be. Just hours after his inauguration, Trump cancelled former President Joe Biden's executive order that mandated that half of all new cars sold in the United States be zero-emission vehicles by 2030. This policy shift clearly works against EV companies, including EVgo, which owns and operates a charging network.And yet, if Mack Hogan, deputy editor of industry news website Inside EV, is correct, the stock's steep sell-off may ultimately prove to be a buying opportunity. As Hogan opined shortly after Trump was elected, "If there's one thing you need to know about public policy, it's that inertia is tough to overcome. EVs are 22% of the auto market in California, electrified vehicles are half the market in China and Europe is pushing ahead. There's nothing the federal government can do to stop it."Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool