Business
These ASX stocks just got a big upgrade on the back of Tesla (NASDAQ:TSLA)
There’s one group of ASX stocks that just got a big valuation boost by the analysts at Macquarie Group Ltd (ASX: MQG).
These are ASX nickel miners as the broker lifted its price forecast for the commodity due to growing demand from battery makers.
Nickel is a key ingredient in batteries that are used by electric car manufacturers, such as Tesla Inc (NASDAQ: TSLA).
The nickel price on supercharge
Traditional car makers are also joining the electrification rush. The world’s largest car maker, Volkswagen (VW), is on track to become a market leader, reported CNN.
VW sold 231,600 battery electric vehicles in 2020. While that’s less than half of what Tesla sold, it still represents a 214% increase over the previous year.
The price…
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