Latest News

‘This truck can’t do normal truck things’: YouTube auto star says towing with Ford’s new electric pickup is a ‘total disaster’ in viral video — but Wall Street still likes these 3 EV stocks

S&P 500



Dow 30






Russell 2000



Crude Oil












10-Yr Bond












CMC Crypto 200



FTSE 100



Nikkei 225



‘This truck can’t do normal truck things’: YouTube auto star says towing with Ford’s new electric pickup is a ‘total disaster’ in viral video — but Wall Street still likes these 3 EV stocks

It’s no secret that electric cars are becoming more and more popular these days. But will the EV trend carry over to pickup trucks?

According to Tyler Hoover — who runs the Hoovie’s Garage YouTube channel with 1.45 million subscribers — an electric pickup truck might not be a great option if you need to tow something.

In a recent video, Hoover tried to tow an old 1930s Ford pickup with his brand new Ford F-150 Lightning. The test didn’t go well, as the new electric truck used up way more range than expected.

“If a truck towing 3,500 pounds can’t even go 100 miles … that is ridiculously stupid. This truck can’t do normal truck things,” Hoover says.

The video, titled “Towing with my Ford Lightning EV Pickup was a TOTAL DISASTER!” has now amassed more than 2.8 million views.

“You would be stopping every hour to recharge, which would take about 45 minutes a pop, and that is absolutely not practical.”

But does that mean it’s time to ditch electric vehicle stocks? Not necessarily. Although EV stocks have largely pulled back this year, Wall Street still sees big opportunities in quite a few of them.

Don’t miss

You could be the landlord of Walmart, Whole Foods and Kroger (and collect fat grocery store-anchored income on a quarterly basis)

Want to invest your spare change but don’t know where to start? There’s an app for that

Mitt Romney says a billionaire tax will trigger demand for these two assets — get in now before the super-rich swarm

Ford (F)

Hoover might not be pleased with his recent towing experience with the F150 Lightning, but the electric pickup truck is still selling like hotcakes.

In September, Ford delivered 1,918 units of the F150 Lightning, which means the model continues to be America’s best-selling electric pickup. Year to date, it has sold 8,760 units of the model.

The F150 Lightning isn’t the only EV in Ford’s lineup. The company also sold 2,324 units of the Mustang Mach-E SUV and 449 units of the E-Transit van in September. That brings Ford’s EV sales to 4,691 units for the month, representing a 197% increase year over year.

“Ford continued to see high-demand vehicles turning at record rates in September while developing electric truck and van leadership and extending our overall truck leadership,” Andrew Frick, a Ford VP said in a press release. “Demand remains strong with new retail orders rapidly expanding.”

Ford shares are down a painful 33% year to date. But Bank of America analyst John Murphy sees a glorious revival on the horizon.

Murphy has a ‘buy’ rating on Ford and a price target of $28, implying a potential upside of 91%.

Tesla (TSLA)

When you think about pure-play EV stocks, Tesla is probably the first one to come to mind.

Sure, its shares have gone on a rollercoaster ride — they are down nearly 51% in 2022 — but Tesla’s EV sales are still booming.

In October, the company reported that for Q3, it delivered 343,830 EVs (18,672 Model S/X and 325,158 Model 3/Y). The amount represented a 42% increase year over year.

Tesla also substantially ramped up its production. In Q3, it produced 365,923 EVs (19,935 Model S/X and 345,988 3/Y), or 54% more than its production in the year-ago period.

Still, Morgan Stanley analyst Adam Jonas points out that the company’s Q3 delivery figure missed the consensus estimate. But he still sees upside in the stock.

Jonas has an “overweight” rating on Tesla and a price target of $383 — roughly 95% above where the stock sits today.

ChargePoint Holdings (CHPT)

ChargePoint Holdings doesn’t produce any electric cars, but it’s still solidly positioned for the EV boom.

The company has one of the largest EV charging networks in the world. It has around 5,000 commercial and fleet customers, including 80% of Fortune 50 companies. Since its inception, ChargePoint has delivered more than 133 million charging sessions.

Of course, given that EV stocks haven’t been market darlings this year, it’s no surprise that this EV infrastructure play was caught in the sell-off as well. ChargePoint shares have fallen 32% year to date.

That could give bargain hunters something to think about.

In the fiscal quarter ended July 31, ChargePoint generated $108.3 million of revenue, marking a 93% increase year over year. This was driven by a 106% increase in networked charging systems revenue and a 68% increase in subscription revenue.

JPMorgan analyst Bill Peterson has an ‘overweight’ rating on ChargePoint and a price target of $20 — around 49% higher than the current levels.

What to read next

You’re probably overpaying when you shop online — get this free tool before Black Friday

Not living their life to impress others’: Here are the top car brands that rich Americans earning more than $200K drive most — and why you should too

Not just job cuts: Elon Musk eliminated Twitter’s ‘Days of rest’ and work-from-home policies last week — pushing a ’24/7′ work culture. Here are 3 other investments the billionaire likes

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.


You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News