Are you interested in the best auto stocks to buy now? Great! We are here to present you with Insider Monkey’s latest article. Automotive industry is among the largest and most profitable industries in the world. There are several points you need to check when you buy auto stocks for your portfolio. This year hasn’t been favorable to automotive industry, as almost all the industries were enforced to lock down, and only a few industries and sectors were able to operate and gain in these pandemic-stricken times. Millions of people were sent to work from home, and in the automotive industry it meant lots of difficulties.
And now, let’s check out what Insider Monkey has investigated for you about the best auto stocks. At first, we can see Nio Inc – ADR (NYSE:NIO) on the fifth spot. The popularity of Nio Inc – ADR (NYSE:NIO) grew in the third quarter, as the number of funds bullish on the company went up by five to 35 during the third quarter, and the value of their holdings went up from $1.40 billion $567.82 million at the end of June. Jim Simons’ Renaissance Technologies and D. E. Shaw’s D E Shaw are among the top shareholders with $295.76 and $242.22 worth of stakes. The company’s revenue is $666.6 million, while the net loss is $0.14 per share. Navistar International Corp (NYSE:NAV) stands on the third spot of the compilation. According to Insider Monkey’s research, Navistar is the most popular truck manufacturer. Carl Icahn, the billionaire investor is among the top shareholders of this company. In its latest 13F filing, Icahn reported holding 16.73 million shares worth $728.42 million, the position being the seventh largest in the portfolio. If you are interested in more detalied information, please jump to the list of the best auto stocks to buy now.