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 (NYSE: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 (NASDAQ:SBUX) and Volvo, owned by Geely Automobile Holding ADR (OTC:GELYY).
Investors don't have to bet Tesla Inc (NASDAQ: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
