A New Law Could Boost EV Stocks

The Inflation Reduction Act of 2022 has been signed into law. The bill provides hundreds of billions in funding for climate initiatives. It also offers tax credits for Electric Vehicles (EV), which could boost some stocks. Consumers can enjoy a tax credit of up to $7,500 on a range of vehicles from companies like Ford, Tesla, BMW, Nissan, and GMC. The credit applies to vehicles that underwent final assembly in North America. This should help with the transition to EVs, while also taking some strain off consumers. Manufacturers will benefit as it ultimately makes their EV models more appealing. The most likely to benefit are the big players. Tesla dominates the EV market. All Tesla models will be eligible for the tax credit from January 1, 2023. Tesla (NASDAQ: TSLA) stock closed at $908.61 yesterday. The incoming tax breaks could push the company closer to its average target of $960.06. If the markets continue to trend up, this stock could have an upside closer to its high-end target of $1580.00. If you're at all interested in the EV market, Tesla is still the stock with the most potential. Find the investments that can generate wealth and secure your future. These investment strategies will matter in the months moving forward. The information above is impersonal and does not provide individualized advice or recommendations for any specific reader or individual portfolio. The opinions are our own and we have not been compensated in any way to review the symbols mentioned above.  sponsored ads below Crash Warning: EVERYTHING Just Changed Today's inflationary crisis has sprouted a head and morphed into a far more dangerous beast. And For the past 50 years, my firm has helped investors navigate some of the darkest moments in our history. 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