#7 - ZEEKR Intelligent Technology (NYSE:ZK)
2024 is turning out to be a solid year for companies going public via initial public offerings (IPOs). ZEEKR Intelligent Technology Holding Limited (NYSE: ZK) is one of those companies. The company is a niche player in the battery electric vehicle (BEV) market. It’s also a sub-brand of Geely Automobile (OTCPK: GELYY) one of the legacy automotive companies of China.
The stock debuted in early May 2024 and is already down about 4.4%. Part of that is just poor timing. The EV industry is under pressure as consumer demand is weak, and consolidation in the industry seems likely. The company may also be getting hit because it’s a Chinese company at a time when the Biden administration is pledging to impose tariffs on Chinese EVs.
As a newly public company, investors don’t have much history to go on. Investors looking to get involved will want to pay close attention to what the company has to say when it reports later this year.
About ZEEKR Intelligent Technology
ZEEKR Intelligent Technology Holding Limited, an investment holding company, engages in the research and development, production, commercialization, and sale of the electric vehicles and batteries. It offers battery electric passenger vehicles (BEVs) and SUVs. The company also produces and sells electric powertrain and battery packs for electric vehicles, such as motors and electric control systems; and provides automotive related research and development services.
Read More - Current Price
- $25.31
- Consensus Rating
- Buy
- Ratings Breakdown
- 6 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $32.02 (26.5% Upside)
Stocks that are trading near their 52-week lows are frequently targeted as quick trades because of the opportunity for quick price movement. However, many of these stocks present opportunities for long investors to "buy the dip." This opportunity is particularly profitable with dividend-paying stocks because adding to your position on a correction allows you to benefit from compounding.
However, not every stock that's trading at a 52-week low is a good buy. That's where traders and investors can part company. If you're looking to hold a stock for a year or longer, you'll want to feel comfortable that the stock offers solid long-term potential.
MarketBeat is committed to providing you with tools to make you a more profitable investor. MarketBeat provides a list of stocks trading at their 52-week lows as a free tool for all investors. You can find this list under the Market Data menu. You can screen the list for different criteria, such as market capitalization, sector, media sentiment, or analyst ratings.
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