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Batteries are one of the most expensive components of electric vehicles (EVs). To bring the cost of EVs down, improving battery technology and reducing the expense of their manufacturing will be key.

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What happened Shares of Tesla (NASDAQ: TSLA) rose 3.6% on Friday following reports that the electric vehicle (EV) maker is considering making a big move into the lithium industry.

(RTTNews) - Electric vehicle giant Tesla Inc. (TSLA) is reportedly planning to build a lithium refining factory in Texas.

With a growth potential that seems impossible to measure, the EV market is undoubtedly one of the most fascinating and exciting stories being told over the last several years.

Wall Street's main indexes extended gains on Friday afternoon and were set to snap a three-week losing streak, as investors piled into technology and high-growth stocks ahead of key U.S. inflation data next week.

Elon Musk filed under seal an amended countersuit against Twitter Inc on Friday to incorporate recent whistleblower claims of security lapses at the social media platform, according to court records.

Ford Motor Co Chief Executive Jim Farley will go to Las Vegas next week to roll the dice on a strategy to convince dealers to cut as much as $2,000 from the cost of delivering an electric vehicle to a customer.

Wall Street's main indexes rose on Friday and were set to snap a three-week losing streak, as investors piled into technology and high-growth stocks ahead of key U.S. inflation data next week.

Wall Street's main indexes rose on Friday, boosted by technology and high-growth stocks, as investors awaited key inflation data next week to gauge the pace of interest rate hikes by the Federal Reserve.

Stellantis N.V. STLA-owned Jeep brand has announced a comprehensive plan for its next generation of fully electric 4xe vehicles. It will introduce four new all-electric SUVs in North America and Europe by the end of 2025.Riding on the success of the Jeep Wrangler 4xe, its

Wall Street's main indexes were set to open higher on Friday following a boost from technology and high-growth stocks, with investors awaiting key inflation data next week for clues on the pace of interest rate hikes by the Federal Reserve.

The NASDAQ 100 Pre-Market Indicator is up 137.53 to 12,458.72. The total Pre-Market volume is currently 38,507,754 shares traded.The following are the most active stocks for the pre-market session: ProShares UltraPro QQQ (TQQQ) is +0.8 at $28.86, with 3,624,216 shares traded. Th

U.S. stock index futures rose broadly on Friday, led by gains in tech and high-growth stocks, with investors awaiting key inflation data next week for clues on the pace of interest rate hikes by the Federal Reserve.

Rivian Automotive (NASDAQ: RIVN) was frequently compared to Tesla (NASDAQ: TSLA) when it went public last November. The electric vehicle maker was backed by Amazon and Ford Motor Company, which seemed to give it much brighter prospects than many of its industry peers.

With Ray Wang, Principal Analyst and the Founder of Constellation Research, upgrading FAANG to MATANA, the obvious question is which tech stocks basket is a better play? A simple price performance comparison shows that MATANA had the upper hand in one year. Further, on average, analysts see a higher upside in MATANA stocks. However, investing is not about buying fancy acronyms. According to TipRanks’ data-driven Smart Score, only Microsoft (NASDAQ:MSFT) and Apple (NASDAQ:AAPL) in the MATANA list have a higher potential to outperform the market. 

But before we dig deeper, let’s examine why FAANG needed an upgrade.

Why the Rebranding? 

For years, FAANG stocks - Meta (previously Facebook) (NASDAQ:META), Apple, Amazon (NASDAQ:AMZN), Netflix (NASDAQ:NFLX), and Alphabet (earlier Google) (NASDAQ:GOOGL) (NASDAQ:GOOG) – symbolized big tech companies. 

However, Wang, in a video interview with Yahoo Finance Live, suggested dropping Meta and Netflix from the big tech list and advised adding Microsoft, Tesla (NASDAQ:TSLA), and Nvidia (NASDAQ:NVDA) to the group. Together, these stocks are now known as MATANA. 

The move follows the underperformance of FAANG stocks in 2022. Blame the base effect for the slowdown in their growth or investors losing appetite for risk amid fears of an economic slowdown, FAANG stocks have lost their sheen. 

Specifically, Meta Platforms and Netflix are struggling to stay relevant to their consumers amid their changing preferences in the post-pandemic world and heightened competition. 

FAANG or MATANA: Which Is the Better Tech Play?

Built with TipRanks’ Stock Comparison tool, here is a summary of how FAANG stocks performed in the past year and what analysts recommend. 

The graph below shows that FAANG stocks, on average, are down over 34% in the past one year. Meanwhile, analysts’ average price target reflects an upside potential of over 25% in one year. 

The Stock Comparison tool shows that a portfolio of MATANA stocks have performed better than FAANG stocks in the past one year. For context, MATANA stocks, on average, are down about 2.2% during the comparable period, significantly outperforming FAANG stocks. 

Further, analysts’ average price target shows an upside of over 28% in the next 12 months.

Bottom Line

MATANA is slightly more diversified than FAANG. However, this shouldn’t matter much as the broader industry classification is the same, with these stocks being prone to similar risks.  

Furthermore, the above graph shows that only Microsoft and Apple stock sport an Outperform Smart Score on TipRanks in the MATANA list. Meanwhile, hedge funds are also bullish on only these two stocks. 

All in all, investors should focus on diversifying their portfolio with Top Smart Score Stocks across multiple sectors to lower risk and maximize gains. 

Read full Disclosure 

Investors fell in love with electric vehicle (EV) stocks in 2020 and 2021. Driven by the boom in Tesla's (NASDAQ: TSLA) stock to a market cap of over $1 trillion and the capital being thrown around with the special purpose acquisition company (SPAC) bubble, a flood of electric ve

BMW will power its new class of electric vehicles to be released in 2025 with cylindrical battery cells made in six factories by partners including China's CATL and EVE Energy as the carmaker looks to speed up charging and extend driving range.

Tesla Inc is considering setting up a lithium refinery on the gulf coast of Texas, as it looks to secure supply of the key component used in batteries amid surging demand for electric vehicles.

Chinese electric vehicle maker Zhejiang Leapmotor Technology has shelved a plan to raise $1.5 billion through an initial public offering (IPO) in Hong Kong because of lukewarm investor interest, said two sources with direct knowledge of the matter.