Both EV stocks and oil stocks are rising in an increasingly irrational market, but while the electric vehicle industry is quickly developing, the oil industry is maturing quickly.
Although the novel coronavirus has wreaked havoc on many sectors of the global economy, leaving double the people unemployed in the United States as compared to February of last year, a rising long-term unemployed rate, and leading to more than eight million US residents slipping under the poverty line since the summer, the stock market continues to go gangbusters. In no sector is this more true than in the domain of electric vehicles, which have been hot — crazy hot.
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