Question: How many green transportation-related companies are on the stock market? Just Tesla Motors? A few more?
Question: Are any of them in the IPO phase?
Answer: One — Smith Electric Vehicles is waiting to go live on Nasdaq.
Question: How come we don’t hear too much about it? Cloud computing and greentech gets a lot of buzz, but it’s surprising to know there are 33 publicly traded companies in that space.
Answer: The 33 companies are small in market value, and mostly are providing technologies for electric vehicles and their charging systems, aftermarket conversions and OEM partnerships, and fleet applications. It’s pretty specialized and it will take a few years to see the vehicle sales figures rise, along with the invesmtent needed to grow the industry. Lately, some of it has been coming through Dept. of Energy grants, but that will dry up.
Question: Can you get rich buying this stock?
Answer: Patience is required. Tesla Motors is doing alright and has a market cap near $3 billion. It’s not shooting up in value and most likely won’t be doing that any time soon. There are no stocks like Fedex, for Johnson & Johnson you can rely upon. Greentech, especially solar power companies, have been getting a lot of bad rap lately, which doesn’t help green transportation. But patience is necessary. There bound to be a few profitable channels as the market grows.