There’s an old term for a still relevant and highly effective investing strategy called “picks and shovels.” It’s a perfect description for what’s going on with electric vehicles (EVs) right now.
A man named Sam Brannan was the first millionaire of the California Gold Rush. He made his fortune selling pots, pans, shovels, and picks to the gold hunters.
That same strategy is worth thinking about today as automakers around the world race to build electric vehicles (EVs). It may be too early to tell which automakers will be most successful, but it’s not too early to tell what supplies they are all going to need. And in fact, prices are already going through the roof…
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