The rearview mirror may be small compared to the windshield, but you need to know where you’ve been when looking at our auto stocks.
We want to understand the price movement of these companies every week and figure out whether or not they are the right ones to invest in over the long term. Let’s take a look at the stocks we review every week to see what happened last week.
Toyota Motor Corp. (TM)
Toyota gave investors a roller coaster ride last week. If you were looking for an auto stock to choose from for the short term, Toyota would have been one to avoid last week. This stock began at $180.20 and moved up and down most of the week. The low point took place at the open on Wednesday when this stock reached $179.61 before moving upward and reaching the high point at $181.47 before the closing bell on Friday.
Honda Motor Co. (HMC)
Honda is one of our auto stocks that gave us a smooth price performance all week. This stock opened at $32.81 and stayed relatively level through Thursday. The Friday opening price showed an increase to $33.00 and the high mark of $33.30 was hit midway through Friday. The closing price of Honda came in at $33.14, giving investors a healthy profit for the week.
General Motors (GM)
General Motors performed opposite to what we saw from Honda. GM began the week at $62.67 and quickly moved upward to reach a high point for the week early on Wednesday at a price of $64.08 per share. Thursday the low point of the week was reached at $61.18 before leveling off on the week to the closing bell at a price of $61.49 to end the week.
Workhorse Group (WKHS)
One of our auto stocks that made several transitions in price throughout the week was Workhorse Group. This stock started the week at $14.86 and moved up and down many times. The high point was reached on Wednesday at a price of $18.03 per share while the low price of the week was found on Friday at $14.63. This stock closed the week at $15.53 to offer profits to investors who stuck out this roller coaster ride.
BYD Co. Ltd. (BYDDF)
We saw an impressive performance for BYD last week. This stock took some time to gain momentum, starting at $26.17 before making a sharp upward jump to begin the day on Thursday. This jump gave us a price of $27.20 which steadily moved upward for the rest of the week to the closing bell on Friday at a price of $27.65 which gave investors a healthy profit last week.
GreenPower Motor Co. (GP)
GreenPower is one of our auto stocks that performed more like you would expect a stock to perform last week. This stock started last week at $17.49 and then moved up to reach a high price shortly after the opening on Wednesday at a price of $$18.75. After this price was hit, the stock price dropped and reached a low on Friday near the closing bell at $16.84.
NIO Inc. (NIO)
NIO is one of our auto stocks that gave us profits last week. This stock started out at $44.27 and then moved down slowly to reach a low point for the week on Thursday $42.25 before moving up to finish the week strong. The high point of the week was reached near the closing bell which gave us a price of $46.21, offering investors the profits they look for when investing in a company.
First Trust NASDAQ Global Auto Index Fund (CARZ)
The price per share of CARZ dropped quite a bit last week. The starting point of this stock began last week at $62.60 before moving sharply downward. This stock was up and down quite a bit all week as it reached a low point of $61.67 after an upward turn. This stock closed the week at $62.29 which meant investors lost some of their money in CARZ.
Choose the Right One of Our Auto Stocks
Based on the performance of the stocks from last week, which ones would you want to invest in? The smart choice would be a stock that has a history of smooth price movement, whether level or steadily one way or the other. Those stocks that tend to move sharply one way or another could leave you with losses if you’re not looking for long-term investments this could be a problem for you.
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