Surprise! These 2 Auto Stocks Are Beating Tesla This Year
There's no question that Tesla (NASDAQ: TSLA) dominated 2020.
Shares of the leading electric vehicle maker jumped more than 700% as investors saw a tipping point in the electrification of the auto sector, and Tesla also hit its goal of delivering 500,000 vehicles while expanding production worldwide. There were plenty of other winners in the EV boom, including Chinese EV maker NIO and Workhorse Group, a maker of electric trucks. Electric and fuel cell supply chain stocks like Plug Power, Bloom Energy, and Beam Global surged as well.
However, something surprising is happening in 2021: Detroit is making a comeback. After years of underperformance, General Motors (NYSE: GM) and Ford (NYSE: F) are both rallying, and the legacy automakers have outperformed Tesla this year, as the chart below shows.
Source Fool.com
