As part of a general portfolio cleanup, I recently considered selling my stake in UQM Technologies, Inc. (AMEX:UQM), a manufacturer of electric motors for hybrid and electric vehicles. I chose to keep the stock because they seem to have sufficient cash on hand to fund several years’ operations. I’m glad I did, because the stock is up 76% since Monday, with no recent news.
But there’s a rumor that Chrysler will be using a UQM product in one of its planned electric cars. If that rumor is true, the stock’s rise is probably justified. I like the company either way, but don’t expect all the gains to hold if the rumor turns out to be false.
DISCLOSURE: Tom Konrad owns UQM.
DISCLAIMER: The information and trades provided here are for informational purposes only and are not a solicitation to buy or sell any of these securities. Investing involves substantial risk and you should evaluate your own risk levels before you make any investment. Past results are not an indication of future performance. Please take the time to read the full disclaimer here.
When did you buy UOM? and for what other reasons?
According ot my records, I bought it Dec 26, 2007. My purchase was the result of my belief that electric vehicles are the best way to use renewable energy for transport.
EVs vs Automakers
EVs vs PHEVs
EVs vs PHEVs (2)
and, most importantly,
EVs vs Biofuels