Normally I’m writing reviews of electric bikes, but I wanted to share how anybody can buy stock in some of the biggest electric vehicle companies today through the Public app. Ever wanted to buy stock in Tesla or some other EV company, but didn’t think you could afford to? Well, you can!
First, I must warn that it’s very easy to lose money on the stock market, especially when you’re investing in start-up companies. You have to be able to stomach the daily fluctuations and be in it for the long haul to come out ahead. I also should warn that I am by no means an expert in investing. I do my homework, and try to choose wisely, but I’m not offering any advice on which stock(s) to purchase.
A good rule of thumb is to invest about 75% into “safe” stock. An index fund, also called an ETF won’t make you rich overnight, but they historically provide about an 8% return on your investment. Instead of gambling on one stock, your investment is diversified. The S&P 500 is one of the most popular options, but there are others. Through the Public app you can look up ITOT for iShares Core S&P to see the past performance of this index. If you take a look at the 1-year and 5-year record, you’ll see continued growth.
But then there’s that 25% that you can play around with by picking stocks from companies you are supportive of and think have great potential. I’m currently investing in the following companies (though this may change in the future): Arcimoto (FUV), BarkBox (BARK), Paysafe (PSFE), Sunrun (RUN), Tesla (TSLA), and Fisker (FSR).
Most of these companies are green tech firms. Arcimoto, Tesla, and Fisker are all in the electric vehicle industry. Of the three, Tesla is a household name as an electric carmaker and has pretty much set the bar in the EV industry. But there is competition from Ford, GM and all the other big automakers, as well as some new names that might make it big. Arcimoto and Fisker are just two of them. Acimoto is the most risky at the moment. They manufacture 3-wheel electric vehicles that I think would be super attractive to certain buyers and overseas markets.
I really like what Fisker is doing. If they can successfully launch their Fisker Ocean SUV next year, there could be a big financial win coming. Americans love their SUVs and I can see them opting for the Ocean, especially with the no-gamble lease Fisker is offering. For less than $400 a month, the car can be leased, driven up to 30,000 miles, and returned at anytime within the leasing period with no penalty. That’s a wise move to help persuade consumers still on the fence about buying their first electric car.
As far as my other investments, some I took on from the advice of others, but all of them are companies and products that I feel good supporting.
What I like about the Public app is that there’s very few fees, you can buy stocks immediately by using your debit card, sell at any time (might be some limitations), and you can literally invest as little as $1 (maybe less) to get started. You don’t need thousands of dollars to start. Obviously, you don’t want to invest more than you can afford to lose in risky stocks, and you still need to be saving, investing in traditional ways (a Roth IRA, employer-matched 401k etc.) and spending wisely as a consumer, but there’s potential to make some extra money.
Check out Public to see if it’s right for you. The app is available for both iOS and Android. They even give you $5 to start investing.