Could Freyr Battery Become the Next Tesla?
Norwegian start-up Freyr Battery (NYSE: FREY) is getting bid up by Wall Street as analysts jump on the lithium-ion battery maker's bandwagon. The bullish sentiment assumes Freyr will cement extensive relationships within the global battery industry across several continents coupled with ambitious production goals.
Freyr went public in July 2021 after merging with special purpose acquisition company (SPAC) Alussa Energy Acquisition, and its stock has gained 63% over the year since then. Analysts continue to fall over themselves to heap praise on its potential, with Morgan Stanley just issuing an investor note that looks for the battery maker to turn into "a real player in the global battery economy later this decade."
While there is also a bear case made for Freyr to short circuit, no analyst is predicting that at the moment -- the start-up has a near unanimous buy recommendation assigned to it. That said, investors may want to be more circumspect than their Wall Street counterparts about the EV battery stock for the following four reasons.
Source Fool.com
