Electric vehicle stocks had a disastrous 2022.

Fortunately, 2023 is starting to look a little better thanks to Tesla (TSLA).  At the moment, the EV stock is up about $8 a share on a volume spike to 156.7 million shares, as compared to daily average volume of 111.39 million shares.

Helping, analysts over at Citi just said they’re optimistic about Tesla’s fourth quarter earnings, and its investor day in early March 2023.  For one, earnings are unlikely to completely solve the issue, but the “weakening sentiment also reflects a lack of visibility on key go-forward items,” such as 2023 gross margins, delivery and production outlook, and the pace of product for new and refreshed vehicles,” said the firm, as quoted by MarketWatch.

With investor day on March 1, analysts are looking for some much-needed visibility from the company. If they can do that, Tesla could have a much better 2023.

Plus, the EV story isn’t slowing down. For one, automakers are starting to abandon internal combustion engines for EVs. Two, President Biden wants 50% of all new vehicle sales to be electric. Three, by 2027, according to CleanTechnica.com, electric vehicle sales could account for 90% market share.

We also have to remember that a good number of EV stocks are still feared.

But remember, that’s when you want go get bullish.

As Warren Buffett still advises, “Be fearful when others are greedy and greedy when others are fearful.” Or, as Sir John Templeton would advise, “Buy at the point of maximum pessimism.” Or even as Baron Rothschild would tell you, “Buy the blood in the streets, even if the blood is your own.”  Again, that’s because fear often breeds opportunity.

In fact, crisis investing is one of the world’s greatest wealth-building secrets known to history’s greatest investors.  The Rothschild family used it to make millions on the London stock exchange back in 1800.  Sir John Templeton exploited this very same strategy to quadruple his portfolio after the Great Depression, buying on excessive pessimism.  Warren Buffett used this strategy after the financial crisis of 2008 and made billions of dollars.

In short, it may be time to back up the truck on TSLA and other beaten down EV stocks.