Best Stocks to Buy in April! 

Best Stocks to Buy in April! 

2022-05-12 • Updated

Traders are always looking for good opportunities in the stock market. Two booming industries look promising in the upcoming period: electric vehicle (EV) stocks and banking stocks. The world is shifting toward electric cars amid the escalating fuel crisis. Next, we have the Federal Reserve leading central banks toward raising interest rates to fight inflation, giving bank stocks a good advantage.

1. Tesla

Tesla (NASDAQ:TSLA) plans to split its stock so it can pay a dividend using shares, and the last stock split was in August 2020. The move is a show of strength and confidence, not weakness. After Tesla had officially opened a plant outside Berlin, it became the first manufacturer of electric cars in Europe. This $5.5 billion facility is likely to enhance the company's ability to meet its growing demands.

This may prompt investors to buy the stock and bet on it. With the previous split, Tesla's stock rose strongly after its price became accessible to more people by reducing its price. The outlook for Tesla is optimistic, with rising oil prices, which will be a major catalyst for electric vehicles companies. The fuel crisis may push economies to rely more on electric cars in Europe.

Tesla stock jumped to the highest price in more than two months at $1,079 after the stock split news but lost some ground afterward. However, we expect TSLA stock to continue rising, as electric vehicles become more popular. Also, deliveries appear to be on the upside and will beat Wall Street forecasts. All of this will of course support prices.

2. Citigroup

Bank stocks present a good opportunity for investors, especially right now, and Citigroup is no exception. Why? Because hiking rates are on the rise, this will serve as a driver for investors to add bank stocks to their portfolios. With rising rates, there is a greater chance for banks to profit from the difference between the rate they pay depositors and what they charge on loans.

The strength of the US economy this year, along with higher rates, may push the loan interest revenue up again for Citigroup, which will support the bank's performance during 2022. Even if that doesn't happen, and inflation and geopolitical issues derail the economy, for the time being, the bet on the strength of the economy is a safe one in the long run.

So buying Citigroup stocks now could be a beneficial move for investors. Citigroup is also the only bank of the three rival banks, Bank of America and JPMorgan, that trades below its book value. This sounds like a valuable investment dream.

3. General Motors

One of the most powerful and leading companies in the automotive sector is General Motors. Basically, the company designs and manufactures vehicles, and also sells automobile parts worldwide. In addition, the company provides auto financing services through General Motors Finance. Today, GM is also ramping up its electrification efforts and self-driving technologies.

The company announced its plans to build a new facility in Quebec worth $400 million, to produce the batteries it needs. These batteries will power electric cars such as the Chevrolet Silverado and GMC Hummer. With this move, the company is closer to achieving its plans to build one million electric vehicles in North America.

Overall, the company appears to be heading in the right direction, and the stock has more room to grow. The company has outperformed earnings per share estimates in each of the past four quarters.

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