Having Trouble Deciding Between Tesla, Nio, Lucid And Rivian? Buy This EV Charging Stock Instead

Zinger Key Points
  • ChargePoint is the leader in the EV charging space and has exposure internationally.
  • Josh Brown noted ChargePoint stock has proved it can make large swings in either direction rather quickly.

It's not clear which companies will come out on top in the race for market share in the electric vehicle space, but one investor sees a way to win without having to choose correctly.

What To Know: Ritholtz Wealth Management's Josh Brown is holding shares of ChargePoint Holdings Inc CHPT as a way to play the accelerated shift to EVs.

"They have like 80,000 charging points everywhere you could think of," Brown said Thursday on CNBC's "Fast Money Halftime Report."

He noted that ChargePoint is the leader in the EV charging space and has exposure internationally, as well as deals with several big-name companies, including Starbucks Corporation SBUX and Volvo, owned by Geely Automobile Holding ADR GELYY.

Investors don't have to bet Tesla Inc TSLA will beat out Mercedes-Benz, for example, or that one of the EV startups will beat out the legacy automakers, he said.

"You just have to bet on overall adoption," Brown stressed.

See Also: Tesla Police Vehicle Involved In 30-Minute High-Speed Chase: Here Are The Details (Video)

Brown noted the stock has proved it can make large swings in either direction rather quickly, so potential investors should look to buy and hold the name longer term, rather than try to trade it, he said.

"It could be $10 tomorrow, it could be $15. I have no way of knowing, so it's more of an investment for me than it is a trade," Brown said.

CHPT Price Action: ChargePoint has a 52-week high of $36.86 and a low of $8.50. The stock was up 12.49% at $14 at press time, according to data from Benzinga Pro.

Photo: Courtesy of Tesla Inc

Posted In: carsCNBCelectric vehiclesEVsJosh BrownMercedes-BenzRitholtz Wealth ManagementVolvoLong IdeasMediaTrading Ideas