Stock Pick

  • D.R. Horton Leads Homebuilder Rally

    D.R. Horton Leads Homebuilder RallyIt’s been a low-volume breakout so far for D.R. Horton (DHI), but it’s still in buy range from a 59.94 entry.

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  • Norwegian Cruise Sets $15 Offering Price, As Downgrades Sweep Stock

    Norwegian Cruise Sets $15 Offering Price, As Downgrades Sweep StockNorwegian Cruise Line Holdings (NCLH) has announced that it has priced its $250M offering of 16,666,667 ordinary shares at a price to the public of $15.00 per share. Shares in NCLH plunged 16% in Thursday’s trading, bringing the share price down to $15.61.NCLH has also granted the underwriters an option to purchase up to 2,500,000 of additional ordinary shares, which must be exercised on or before August 17, 2020.The offering is expected to close on July 21, 2020, subject to customary closing conditions. The company says it expects to use the net proceeds from the offering for general corporate purposes.J.P. Morgan, Citigroup, Goldman Sachs & Co. LLC, Barclays, Mizuho Securities and UBS Investment Bank are acting as joint book-running managers.NCLH, which operates a combined fleet of 28 ships, has seen shares plunge 73% year-to-date due to the fallout from Covid-19 on the tourism industry.However the stock maintains a cautiously optimistic Moderate Buy Street consensus, with 6 recent buy ratings, 10 hold ratings and 1 sell rating. Meanwhile the $17 average analyst price target indicates 9% upside potential lies ahead. (See NCLH analysis on TipRanks).In the last few days both SunTrust Robinson and Macquarie have downgraded the cruise company to Hold from Buy. That brings the total analyst downgrades in the last month to four. Indeed, Macquarie’s Paul Golding downgraded the entire cruise sector, citing spiking Covid-19 cases.“One of the many factors that makes the resumption of service complicated is the fact that cruise operators must coordinate with multiple regulatory bodies from numerous countries. We don’t anticipate that the regulations and procedures will necessarily be identical across the globe” comments Deutsche Bank analyst Chris Woronka.He has a hold rating on NCLH and $15 price target, telling investors: “Cruises are inherently social in nature and there are legitimate questions about the quality of the experience if physical distancing is required (in addition to concerns that it might be exceedingly difficult to profitably operate an itinerary that is capacity constrained).”Related News: Netflix Sinks 9% On Weak Q2 Earnings; Subdued Guidance Guns, Gaming and Zoom – The Companies with the Highest Earnings Momentum Heading into Q2 Reports American Airlines, JetBlue Partner To Boost Flight Options In Bid For Covid-19 Recovery More recent articles from Smarter Analyst: * LendingTree Boosts Q2 Guidance; Analysts Raise Price Targets * Netflix Sinks 9% On Weak Q2 Earnings; Subdued Guidance * Amazon Launches Brand-Streaming Product Using Twitch Technology * Uber Buys Routematch To Expand Public Transit Operations

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  • It’s Time for Plug Power to Plow Through $10

    It’s Time for Plug Power to Plow Through $10I last wrote about Plug Power (NASDAQ:PLUG) in early April. A fair bit has happened to the manufacturer of hydrogen fuel cell systems in the three months since. All of it is good, which is why PLUG stock is up 129% since April 7. The stock hit a 52-week and all-time high of $10.49 on July 6. In the six days of trading since it has fallen back 21%. I guess investors felt Plug Power stock was getting ahead of itself from a valuation perspective. Fair enough. InvestorPlace – Stock Market News, Stock Advice & Trading TipsIn April, I was enthusiastic about the company's drive to $1 billion in sales by 2024, suggesting it was a buy in the mid-$3s and a steal under $3. Now that it's pushing $10, it's not nearly as cheap. Despite its lofty valuation, I still believe it's a buy. Here's why. Plug Power's Lofty Goals Got LoftierIn April, Plug Power announced a five-year plan that included $1 billion in sales, $170 million in operating income, and $200 million in adjusted EBITDA by 2024. On June 23, the company raised its goals for 2024 to $1.2 billion in sales, $210 million in operating income, and $250 million in adjusted EBITDA, 17%, 24% and 25% increases, respectively, from its earlier targets. * 8 Presidential Election Stocks to Buy in Case Trump Wins Again Acquisitions were the main reason for the increase.The first was United Hydrogen, one of the largest privately-owned hydrogen producers in North America. It currently can produce 6.4 tons of hydrogen daily. It will up that amount to 10 tons daily soon. Having United Hydrogen in the fold helps Plug Power keep up with the push to hydrogen fuel. The second acquisition was Giner ELX, an operator of one of the world's largest and most cost-effective proton exchange membrane (PEM) hydrogen generators. As someone who had trouble with science in high school, I'll leave the importance of such a generator to the professionals. "Water electrolysis technologies are classified into three categories based on the applied electrolyte: alkaline water electrolysis, proton exchange membrane (PEM) water electrolysis, and solid oxide water electrolysis [11]," stated authors Radenka Maric and Haoran Yu in a November 2018 journal contribution for IntechOpen. "PEM water electrolysis systems provide several advantages over the other two electrolysis technologies, such as higher rate of hydrogen production, more compact design, and greater energy efficiency."In a nutshell, Giner ELX gives Plug Power access to greener hydrogen, which will allow it to move its customers to low carbon and zero-carbon energy solutions. Plug Power's intention is to become a vertically-integrated hydrogen company. These two acquisitions have moved it closer to its goal to have 50% or more of the hydrogen used in its business to be green by 2024. "Plug Power is working to build the modern clean hydrogen economy. Every decision we make is with an eye to the future, not the past," Plug Power CEO, Andy Marsh, said in its press release announcing closing the two acquisitions. "This closely aligns with the efforts that companies like United Hydrogen and Giner ELX have made to secure broad participation in the hydrogen economy, and to achieve the objectives of a clean environment and reduced dependence on foreign oil."Any business that can help drive fossil fuels into oblivion is worthy of investor attention. Plug Power is undoubtedly one of them. Why Buy PLUG Stock at 9 Times Sales?Plug Power reported its first-quarter results in May. On the top line, sales were $40.8 million, 88.9% higher than a year earlier. On the bottom line, it had adjusted EBITDA of $6.1 million, 30.7% lower than Q1 2019. On a GAAP basis, it lost 12 cents per share, 14% lower than last year. All around, the numbers were very encouraging. Despite the novel coronavirus and Covid-19, it closed a multi-site anchor GenKey customer with estimated gross billings, of approximately $50 million during the quarter. Also, it launched its 125kW Pro-Gen zero-emission engine for heavy-duty Class 6, 7, and 8 trucks, transit buses, etc. Equally important, it reaffirmed its 2020 guidance of $300 million in gross billings, a growth rate of more than 25%. This is a business on the move."Hydrogen is expected to be one of the fastest growing segments of the energy industry representing as much as 18% of the energy mix by 2050. Today, Plug Power is the largest user of liquid hydrogen and has built more hydrogen refueling stations than anyone else in the world," stated its Q1 2020 letter to shareholders."Customers have performed more than 27.7 million fills, dispensing more than 27 tons of hydrogen daily. These numbers remain unmatched by any other company in our industry."I believe that it makes sense to pay up for companies that are breaking the mold. Plug Power is such a company.Next stop, $20. The only question is when? Sooner than you think. Will Ashworth has written about investments full-time since 2008. Publications where he's appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post Ita€™s Time for Plug Power to Plow Through $10 appeared first on InvestorPlace.

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  • 2 easy ASX shares for beginners

    young boy in business suit holding abacus and frowning

    Buying your first ASX shares should be a wonderful experience. And yet you almost never hear of an investor’s first foray into the share market being a positive one. That’s because many would-be investors have the wrong idea about the share market, or else take up some lousy-in-hindsight advice.

    Since losing money on your first investment has the potential to put you off investing for life, I think it’s of utmost importance that your early share purchases be relatively safe and secure investments. On that note, here are 2 investments that I believe fulfil these criteria so are perfect shares for beginners.

    2 ASX shares for beginners

    CSL Limited (ASX: CSL)

    CSL is the largest company on the ASX and for good reason. It’s a highly successful healthcare company that is involved with research and development of blood medicines as well as vaccinations. CSL started life as a public company back in 1994 (before then it was a government-owned business). But since then, CSL shares have climbed to almost immeasurable heights. When it first hit the ASX boards, it was asking around $2.30 per share. Today those same shares will set you back more than $280.

    Due to CSL’s dominance of its industry on a global scale, as well as its world-class R&D division and growing dividend, I think CSL shares are a great pick for a beginner investor.

    MFF Capital Investments Ltd (ASX: MFF)

    MFF is a listed investment company (LIC), which means it’s a company that invests in other shares on behalf of its own investors. In this way, it requires very little ongoing effort as an investment – which in my view makes it a perfect share for beginners.

    Rather than investing in ASX shares like CSL, MFF instead primarily invests in United States-listed companies. Some of its current top holdings include the payments giants Mastercard and Visa, as well as Warren Buffett favourite Coca-Cola and the ubiquitous Microsoft. These kinds of companies are some of the best in the world, in my view, and I think any investor would be pleased to have their financial fortunes tied to any of them. MFF is managed by Chris Mackay, whom I think is one of the best fund managers in Australia. If you’re a beginner investor, I think this company is not a bad choice at all for your first investment (or even your 100th).

    Foolish takeaway

    Choosing your first shares can be scary, but in my view, the two shares for beginners named above are both businesses that will prove to be great choices and which can remain in your portfolio for at least the next decade.

    3 “Double Down” Stocks To Ride The Bull Market

    Motley Fool resident tech stock expert Dr. Anirban Mahanti has stumbled upon three under-the-radar stock picks he believes could be some of the greatest discoveries of his investing career.

    He’s so confident in their future prospects that he has issued “double down” buy alerts on each of these three stocks to members of his Motley Fool Extreme Opportunities stock picking service.

    See the Double Down Stocks

    *Extreme Opportunities returns as of June 5th 2020

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    Sebastian Bowen owns shares of Coca-Cola, Magellan Flagship Fund Ltd, Mastercard, and Visa. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Mastercard and Visa. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has recommended Mastercard. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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  • Jailed executive in Wirecard scandal offers confession, lawyer says

    Jailed executive in Wirecard scandal offers confession, lawyer saysThe former head of a key subsidiary of Wirecard, who was arrested earlier this month, has admitted wrongdoing to prosecutors for his role in a multi-billion-euros fraud, his lawyer said on Thursday. It is the first known confession of wrongdoing in the collapse of one of Germany’s biggest companies. The unidentified jailed executive was the chief executive officer of Dubai-based Cardsystems Middle East.

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  • Has the Temple & Webster share price peaked?

    woman holding flagpole on top of peak against backdrop of city and stock chart

    The Temple & Webster Group Ltd (ASX: TPW) share price tanked more than 9% today. After rallying an astounding ~350% from its lows in late March, today’s price action could indicate that the company’s share price may have peaked in the short term.   

    Temple & Webster changes share-trading policy

    An article in yesterday’s Australian Financial Review has heightened attention on Temple & Webster’s share-trading policy. The article cited a recent announcement from Temple & Webster, in which the company informed the market that it has amended its policy.

    According to the article, the only amendments made by Temple & Webster related to how company directors and key management could trade shares during blackout periods. The company’s old policy included blackout periods of 30 June and 31 December, up until the company releases its preliminary final report or half-year report respectively.

    The amendments made to the Temple & Webster policy yesterday now mean the blackout would only be in place up to the results day or the company’s release of unaudited results. Although the article doesn’t suggest market sell-downs are guaranteed, it does raise concerns following similar rule changes by Afterpay Ltd (ASX: APT). Changes made to Afterpay’s policy preceded the selling down of $250 million of shares by the company founders the following day.

    Therefore, since there has been no direct, price-sensitive news released by Temple & Webster, the rule change could possible explain today’s price action.

    How has Temple & Webster performed during the pandemic?

    Temple & Webster is Australia’s largest online retailer of furniture and homewares, boasting more than 150,000 products for sale. Online retailers like Temple & Webster have been one of the few winners during the coronavirus pandemic as shoppers opted to switch to online retail avenues.

    Temple & Webster acknowledged this strong demand in a recent trading update, which highlighted a 130% surge in gross sales to 28 June on a year-on-year basis. In mid-June, the online retailer reported a 668% increase in year-to-date EBITDA of $7.1 million. Additionally, the company reported a 68% increase in year-to-date revenue of $151.7 million.

    Despite being debt-free and boasting around $30 million in cash, Temple & Webster recently completed a $40 million share placement. The company noted that this will allow for further investments in growth and will improve its technology, product and service offerings.

    Should you buy?

    In my opinion, the coronavirus pandemic has irreversibly changed consumer behaviour and fast-tracked the move from traditional retail to online avenues.

    As a result, I think that online retailers like Temple & Webster could thrive in 2020 and beyond. Despite this optimism, it’s also important to note the astounding run the company’s share price has just had.

    From a risk-management perspective, I think a prudent strategy would be to wait until the August reporting season or hold off for an extended pullback before buying shares in Temple & Webster.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

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    Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Temple & Webster Group Ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Temple & Webster Group Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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  • ASX 200 finishes up 0.4%, Rio Tinto grinds higher

    ASX 200

    The S&P/ASX 200 Index (ASX: XJO) finished higher by 0.4% today to 6,034 points.

    COVID-19 continues to feature in the headlines. Victoria reported its highest number of COVID-19 cases with 428 new confirmed cases and NSW announced eight new cases. In response, NSW has announced new restrictions.

    Here are some of the main news items from the ASX 200:

    Rio Tinto Limited (ASX: RIO) grinds higher

    The Rio Tinto share price climbed 0.6% after releasing the production numbers from its 2020 second quarter.

    Compared to the first quarter of 2020, iron ore shipments rose by 19% to 86.7 Mt, iron ore production grew 7% to 83.2 Mt, bauxite production increased 5% to 14.6 Mt, aluminium production was flat at 785 kt, mined copper production saw no growth with 132.8 kt, titanium dioxide slag production fell 10% to 262 kt and IOC iron ore pellets and concentrate production rose 8% to 2.8 Mt.

    The ASX 200 company said that capital expenditure is now expected to be around $6 billion in 2020 due to an appreciation in currencies compared to the US dollar in the first quarter. Capital expenditure for 2021 and 2022 is now expected to be around $7 billion – up from $6.5 billion.

    Rio Tinto chief executive J-S Jacques said: “We delivered a strong performance, particularly in iron ore and bauxite, demonstrating the resilience of our business and ability to adapt in difficult conditions. Our iron ore assets are performing well in a strong pricing environment and we are on track to meet our 2020 iron ore guidance. Despite various COVID-19 related challenges, all our assets have continued to operate, with our first priority to protect the health and safety of all our employees and communities.”

    BWX Ltd (ASX: BWX) completes placement

    The BWX share price jumped 18.6% today after coming back to trading on the ASX.

    The natural beauty business announced today that it has successfully completed its $40 million fully underwritten institutional placement at $3.40 per share. The company now has raised enough cash to build a new manufacturing facility for a cost of $33.7 million.

    BWX said the placement received strong interest from existing institutional shareholders as well as new investors.

    Dave Fenlon, CEO and managing director of BWX, said: “We are very pleased with the strong support from our institutional shareholders who are right behind our plans to transform BWX’s operating model with the development of a new world-class manufacturing facility.

    “Following a strong FY20 trading performance, we are committed to using the placement proceeds to invest in the new facility which we expect can solve capacity constraints, unlock significant efficiency gains and deliver growth over and above our three year strategic plan.”

    BlueScope Steel Limited (ASX: BSL) impairment

    ASX 200 share BlueScope today announced it expects its FY20 underlying earnings before interest and tax (EBIT) for FY20 to be around $560 million with the June 2020 half showing an EBIT contribution of around $260 million. It finished June 2020 with a net cash balance of around $100 million.

    Whilst the overall picture was solid, the company expects to include an impairment of around $200 million for its New Zealand and Pacific Steel segment because of updated expectations of lower sustainable earnings in the longer-term. The company is doing a strategic review of the New Zealand operations.

    Integrated Research Limited (ASX: IRI) share price rises more than 3%

    Integrated Research pleased investors today with an update about its revenue and profit guidance for FY20.

    Licence sales are expected to be in the range of $70.8 million to $72.3 million. This would be growth of 13% to 15%. The strongest performance was from the company’s ‘unified communications’ product line.

    The company said that its total revenue is expected to be in the range of $109.5 million to $111 million. This represents growth of 9% to 10%. Net profit after tax is expected to be in the range of $23.6 million to $24.2 million. This would be growth of 8% to 11%.

    The full accounts are expected to be released to the ASX on 20 August 2020.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

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    *Returns as of June 30th

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    Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Integrated Research Limited. The Motley Fool Australia owns shares of and has recommended BWX Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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  • Cedar Woods share price edges higher on announcement

    Row of miniature white paper houses with one red house

    The Cedar Woods Properties Limited (ASX: CWP) share price was up and down today but did manage to close out the day’s trade 1.4% up. This came following an announcement from the company around lunch time regarding an earnings and acquisition update. 

    What did Cedar Woods announce?

    Cedar Woods announced it expects FY20 net profit after tax (NPAT) to be in the $20 to $21 million range. The estimate reflects pandemic-related delay of significant settlements targeted to occur in June 2020.

    Additionally, at the end of last month, Cedar Woods had an estimated $360 million in presales compared to $330 million at the same time last year. 

    The Federal Government’s HomeBuilder package and the Western Australian state government incentives have resulted in an uplift in presales for Cedar Woods. 

    Pleasingly, the group ended FY20 with a gearing percentage of 38% which is in the lower end of its target range of 20-75%. As a result, it’s well positioned to pursue growth opportunities. 

    Also, Cedar Woods has secured conditional agreement to acquire 28.55 hectares of land in Burpengary, Queensland. This is located in a high growth area of Moreton Bay. However, this is subject to planning and board approval. An application has been lodged with the council. 

    Audited FY20 results are scheduled to be released on 27 August 2020.

    Other recent announcements

    On 16 June 2020, Cedar Woods announced an extension to its $30 million finance facility for the Williams Landing Shopping Centre in Victoria that opened in December 2014. The centre comprises a Woolworths Group Ltd (ASX: WOW) supermarket, 21 specialty stores and 1,800 square metres of office space. In addition, the centre was expanded in 2017 with a childcare facility and additional retail space. 

    The announcement of the $30 million finance facility is in addition the company’s $205 million corporate facility with a blend of 3 and 5 year terms. 

    In a March market update this year, the company was unable to to confirm earnings guidance due to the effects of the coronavirus pandemic. However, the group maintained the strength of its balance sheet, low gearing and finance facilities. 

    About the Cedar Woods share price

    Established in Perth in 1987, Cedar Woods has grown to become a leading Australian property company. It develops residential communities and commercial developments. 

    The group’s product mix includes land subdivisions in residential communities, medium and high-density apartments, townhouses in inner-city neighbourhoods and commercial developments. 

    The company’s share price is currently trading at $5.06 which represents an increase of 1.4% for the day. Over the past year, the Cedar Woods share price has fallen 20.32% on the back of falling demand due to the pandemic. 

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    See The 5 Stocks

    *Returns as of June 30th

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    Motley Fool contributor Matthew Donald has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Woolworths Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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  • What Percentage Of Zynex, Inc. (NASDAQ:ZYXI) Shares Do Insiders Own?

    What Percentage Of Zynex, Inc. (NASDAQ:ZYXI) Shares Do Insiders Own?If you want to know who really controls Zynex, Inc. (NASDAQ:ZYXI), then you'll have to look at the makeup of its share…

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  • NIO Stock Still Has Plenty of Fuel After 2 Months Rocketing Upwards

    NIO Stock Still Has Plenty of Fuel After 2 Months Rocketing UpwardsNIO (NYSE:NIO) stock has been on an absolute tear in the past 2 months.Source: Carrie Fereday / Shutterstock.com When I last wrote about its shares on May 28, NIO was trading at $3.83. Shares currently sit at $14.98. That represents a price appreciation of 291% in a very short period of time.Back in May, I recommended NIO as a buy despite negative rhetoric and trade war concerns. Chinese government control via direct investment and sheer market size alone made it fail-proof in my mind then.InvestorPlace – Stock Market News, Stock Advice & Trading TipsMarkets will be paying much more attention to NIO given its meteoric rise of late. Investors will likely engage in profit taking to some degree but I believe NIO shares' trajectory makes it a buy still. * 8 Presidential Election Stocks to Buy in Case Trump Wins Again There's still plenty of room for long-term buy-and-hold investors to get in profitably. Nio Stock Profits Will Be BookedInvestors are keenly aware of Nio's price increase of late. Investors who jumped into Nio shares on a whim a few months ago have made large profits, and they're going to look to turn those paper profits into cold, hard cash. Thus, markets can expect to see some selling in order to book profits. Naturally, if enough investors decide to do so, prices will respond in kind. Market viewers can expect that a price dip could occur for no other reason than profit booking alone. Therefore, investors keen to pick up NIO's shares on a dip absent any fundamentally negative news should be on the look out. Impatient profit booking can be a great opportunity for long-term investors. NIO is No Exception to the RuleSales drive companies. Even the most over-hyped companies have to face this truth at some point in their respective lives.This is not to imply that NIO was over-hyped, but rather to say that NIO is succeeding exactly where it needs to. NIO has shown excellent sales trajectory in the past, and 2020 has been stellar. Per the company's investor relations:"NIO delivered 3,740 vehicles in June 2020, representing a strong 179.1% growth year-over-year. The deliveries consisted of 2,476 ES6s, the Company's 5-seater high-performance premium smart electric SUV, and 1,264 ES8s, the Company's 7-seater high-performance premium smart electric SUV, and its 6-seater variant. NIO delivered 10,331 vehicles in the second quarter of 2020, representing an increase of 190.8% year-over-year and an increase of 169.2% quarter-over-quarter. As of June 30, 2020, cumulative deliveries of the ES8 and the ES6 reached 46,082 vehicles, of which 14,169 were delivered in 2020." Electric Cars Are Proving Their Staying PowerNarratives surrounding electric cars have run the gamut over the past decade. Market opinions ranged from electric vehicles having no potential at all to them being the end of ICE vehicles.Consumer behavior has reached critical mass and electric vehicles are part of a new normal in the automobile industry. Tesla (NASDAQ:TSLA) has moved past its growing pains and has proven it can produce strong results operationally and financially. It is the most valuable automobile company in the world.Investors are going to continue to reward electric vehicle stocks whether they prefer to drive ICE vehicles or not. Tesla will continue to garner the most attention, and rightfully so. But markets are paying a lot of attention to electric car stocks in hopes that the next Tesla reveals itself. NIO may be that company. Nikola (NASDAQ:NKLA) is a very interesting stock, and company as well. And there are many other interesting vehicles and projects coming from companies including Rivian, Bollinger Motors, Workhorse (NASDAQ:WKHS) and Lucid Motors just to name a few. Are NIO Shares Still a Buy?It all looks positive for NIO shares, and I believe they are a buy. One caveat is that trade war concerns do persist. Current legislature moving through Washington has the potential to seriously drop NIO's value and that of Chinese stocks across the board.I am of the opinion that there is a need for more oversight of Chinese companies that want to list shares on U.S. exchanges. That said, I hardly believe that every Chinese firm is like Luckin Coffee (OTCMKTS:LKNCY). And Nio's fundamentals suggest there is more room for this stock to run up the charts.Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks. Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post NIO Stock Still Has Plenty of Fuel After 2 Months Rocketing Upwards appeared first on InvestorPlace.

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