3 Stocks Leading the Alternative Energy Charge

From wind power to electric cars, these firms are paving the way

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3 Stocks Leading the Alternative Energy Charge

Tesla

Tesla185 3 Stocks Leading the Alternative Energy ChargeLast but not least, we simply have to include Tesla on this list.

As the company’s website puts it: “Tesla Motors was founded in 2003 by a group of intrepid Silicon Valley engineers who set out to prove that electric vehicles could be awesome.”

So far, so good.

Tesla is turning heads on the roads, and on Wall Street. Year-to-date, the stock has soared around almost 400% — to the extent that Elon Musk actually said the stock’s valuation is “more than we have any right to deserve.”

The long-term growth that investors are banking on makes more sense when you consider long-term appeal of electric vehicles. For the planet, it means lower carbon emissions and less of a dependence on fossil fuels. For drivers, it means saving money on gas.

Of course, there’s still a long way to go for electric cars to really catch on. Right now, the company’s cars are too expensive for average Joe, while the nation doesn’t yet have the charging stations necessary to support Tesla’s aspirations.

Plus, other automakers are obviously going to try and steal away a slice of the pie. Ford (F) has an electric version of its Focus, while Nissan (NSANY) has the Leaf.

Still, that hasn’t stopped investors from believing in this industry pioneer. InvestorPlace contributor Jim Woods actually thinks Tesla is the next Apple (AAPL) in the sense that each iconic name started off by building a huge, cult-like following.

As of this writing, Alyssa Oursler did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, http://investorplace.com/2013/09/3-stocks-leading-the-alternative-energy-charge/.

©2014 InvestorPlace Media, LLC

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