#4 - Panasonic (OTCMKTS:PCRFY)
Panasonic (OTCMKTS:PCRFY) is another battery stock with ties to Tesla. The company has over 9% of the global EV battery market share. And that’s mostly due to its relationship with Tesla.
The bearish view may be that Tesla has plans to bring much of its battery production in-house. On the other hand, that still seems to be some time away. And Panasonic’s leadership in the category means that it will likely not be short of companies looking to partner up.
To that end, the company joint venture with Toyota Motors (NYSE:TM) Prime Planet Energy & Solutions recently announced plans to build a manufacturing site in Japan. This is in addition to Panasonic’s plans to build a second EV battery plant in the United States.
These announcements help to ensure that Panasonic has a long runway growth. And that seems to be getting the attention of investors. PCRFY stock bounced off its 52-week low and has moved above both its 50- and 200-day moving averages.
About Panasonic
Panasonic Holdings Corporation, together with its subsidiaries, research, develops, manufactures, sells, and services various electrical and electronic products worldwide. It operates through five segments: Lifestyle, Automotive, Connect, Industry, and Energy. The Lifestyle segment offers refrigerators, microwave ovens, rice cookers, washing machines, lighting fixtures, vacuum cleaners, air-conditioners, air to water heat pump system, air purifiers/sterilizers, and freezing or refrigerating showcases, as well as ventilation and perflation equipment.
Read More - Current Price
- $9.36
- Consensus Rating
- Hold
- Ratings Breakdown
- 1 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
