Super investor Cathie Wood loves Tesla.
But that doesn’t mean she’s holding on to every single share of it forever. In fact, her company Ark Investment Management recently went on a selling spree of Tesla shares.
Ark’s exchange-traded funds — ARK Innovation (ARKK), ARK Autonomous Technology & Robotics (ARKQ), and ARK Next Generation Internet (ARKW) — sold over 340,000 of Tesla shares early last week, a stake worth roughly $270 million.
Still, Tesla remains the top holding at ARKK, and Wood has a price target of $3,000 for the EV maker.
For investors who want a different way to invest in the EV space, here are three stocks worth considering — one of them might be worth buying with your spare change.
Nio (NIO)
Known as the “Tesla of China,” Nio has also become a huge name for U.S. equity investors.
Shares rose from $4.02 to $48.74 apiece in 2020, marking a staggering gain of over 1,100%. And thanks to the meme stock frenzy earlier this year, Nio continued to surge, reaching well over $60 in January.
Parabolic runs don’t last forever, and Nio has since pared some of the gains. Today, the stock trades at around $34.
While Nio shares have been on a rollercoaster ride, its business continues to expand at a very impressive pace. The company delivered 21,896 EVs in the second quarter of 2021, up 111.9% year-over-year and 9.2% sequentially.
That said, there is competition in China’s EV market. Companies like Li Auto and XPeng are also vying for a piece of the action.
And since Li, Xpeng, and Nio shares have all pulled back substantially from their 52-week highs, this could be a good time to put some digital nickels and dimes to work.
Ford (F)
One of America’s homegrown automakers, Ford shares tumbled in the pandemic-induced market sell-off in early 2020. But it has since made a strong comeback.
In fact, Ford’s stock price has more than doubled over the past year alone.
As a company whose best seller is the F-Series pickup trucks, Ford isn’t exactly a pure-play EV stock.
But management is electrifying its lineup.
Ford introduced the Mustang Mach-E, a five-door electric compact SUV, in November 2019. The model went on sale in December 2020 and won the 2021 North American SUV of the Year Award.
Ford is also working on a fully electric pickup named the F-150 Lightning. Production is expected to begin next spring.
Of course, Detroit’s other major automakers are also in the EV space.
General Motors has long had EVs in its lineup. Meanwhile Stellantis — the parent company of Chrysler — intends to invest about $35 billion in electric vehicles and new software through 2025.
Blink Charging (BLNK)
Rounding out our list is Blink Charging, a relatively underfollowed name in the world…
Read More: Cathie Wood just dumped $270 million in Tesla — 3 cheap EV stocks to buy in