Although cryptocurrencies have generated substantial intrigue and controversy, it may not be the most absurd bull market of stocks to buy right now. Instead, this dubious honor could belong to the used car market.
If you look at the Manheim index for used car prices, its upward trajectory exceeds that of benchmark equities indices and even certain cryptos. Thus, automotive-related stocks to buy have been big winners in the year recently passed.
However, the utterly ridiculous skyrocketing of used vehicles – which in turn accelerated prices of new cars as well – creates massive risks. Basically, what goes up must come down. Thus, analysts at KPMG warn that once global supply chains sort themselves out and the economic machinery starts churning again, used car prices could plummet, perhaps by 20% to 30%. No question exists that auto-related stocks to buy are incredibly speculative at this point.