POLA Stock Alert: Is Polar Power the Next Big EV Stock?


  • Polar Power (POLA) stock is soaring in early trading.
  • POLA announced that it had begun taking orders for its new mobile EV chargers.
  • Many companies and consumers could buy the chargers over the longer term.
POLA stock - POLA Stock Alert: Is Polar Power the Next Big EV Stock?

Source: DG FotoStock / Shutterstock.com

Polar Power (NASDAQ:POLA) stock is soaring almost 80% in early trading after the company announced that it had started taking advance orders for its new electric vehicle (EV) chargers. According to POLA, these EV chargers are mobile and can be used to supply electricity to EVs whose batteries have lost all of their power, leaving their drivers and passengers stranded.

I believe that POLA could potentially become one of the next big EV stocks.

More About Polar Power’s EV Batteries

The full name of Polar Power’s batteries is “Combined Charging System Electric Vehicle Chargers.” They can be utilized to provide emergency roadside service for EVs whose batteries have been depleted before they can be recharged at conventional, immobile chargers. Polar’s chargers will provide a small amount of electricity to stranded EVs, enabling the vehicles to reach the nearest conventional charger.

Polar Power expects the chargers, which utilize “the universal CCS standard,” to be rolled out by the end of March 2024. The CCS standard is being backed by the federal government, which is planning to spend $7.5 billion to subsidize the launch of many new EV chargers in the country.

Background on Polar Power

According to POLA, it has provided fast EV chargers to automakers since 2011. Auto manufacturers have used Polar’s mobile chargers while “field testing” their EVs. according to Polar. POLA added that its mobile chargers are meaningfully smaller, lighter, and cheaper than those of its competitors.

The Future of POLA Stock

Polar’s long history of supplying mobile EV chargers to automakers to some extent validates its technology and manufacturing process. Further, its ability to make smaller, lighter and cheaper mobile chargers than those of its competitors gives it important competitive advantages.

And in light of the rapid proliferation of EVs in the U.S., many insurance companies, firms that provide towing services, and companies that own EVs could look to buy Polar’s mobile chargers over the longer term. Depending on the chargers’ price, some consumers could be interested in buying them as well.

Given POLA stock’s current, very low market capitalization of just $22.73 million, I think that the shares can climb much further over the longer term and become one of the next big EV stocks.

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risk.

Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, Larry Ramer did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Larry Ramer has conducted research and written articles on U.S. stocks for 15 years. He has been employed by The Fly and Israel’s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been PLUG, XOM and solar stocks. You can reach him on Stocktwits at @larryramer.

Article printed from InvestorPlace Media, https://investorplace.com/2023/05/pola-stock-alert-is-polar-power-the-next-big-ev-stock/.

©2023 InvestorPlace Media, LLC