How to Buy Self-Driving Car Stocks [2024]

Summary: Self-driving car stocks are shares in companies spearheading the development of autonomous vehicle technology amidst a transformative shift in the automotive industry. One of the most convenient ways to buy self-driving car stocks is through a reputable broker platform, with our preferred choice being eToro.

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• Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.

• 0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

• Copy top-performing traders in real time, automatically.

• eToro USA is registered with FINRA for securities trading.

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eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

What are self-driving cars?

Self-driving cars are autonomous vehicles capable of navigating and operating without human input. They utilize a combination of advanced technologies such as sensors, cameras, radar, and artificial intelligence to interpret their surroundings and make driving decisions. Companies at the forefront of this technological shift include established automakers and tech giants, each contributing to the development of self-driving technology.

How to buy self-driving car stocks: Step-by-step

If you’re interested in investing in these companies, we’ve prepared a simple step-by-step guide in which you’ll find out how you can do so. 

Step 1: Choose a company to invest in

Before diving into the stock market, it’s crucial to research and choose the right company to invest in. Therefore, you should look for companies with a solid track record in the autonomous driving sector, such as:

• Tesla (NASDAQ: TSLA);
• Ford (NYSE: F);
• General Motors (NYSE: GM).

Step 2: Register an account with a broker

To buy stocks, you’ll need to open an account with a brokerage firm. Our go-to broker for investing in self-driving car stocks is eToro, a widely popular and licensed platform that offers a myriad of useful investing features like:

• Commission-free stock trading;
• Access to over 2,000 stocks from 17 different exchanges;
• The option to purchase fractional shares;
• A user-friendly platform that simplifies the trading experience.

Highly Rated Stock Trading & Investing Platform

• Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.

• 0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

• Copy top-performing traders in real time, automatically.

• eToro USA is registered with FINRA for securities trading.

30+ million Users

Get Started

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

When choosing a broker, you should consider factors such as:

• Fees;
• User interface;
• Available features.

Regardless of which brokerage platform you opt for, the registration process is usually straightforward. It involves providing personal information, financial details, and agreeing to the terms and conditions.

Step 3: Fund your account

After successfully registering with a broker, it will be time to fund your newly-made account. Luckily, most brokers offer multiple funding options, including bank transfers, wire transfers, and credit/debit card transactions. Still, ensure you are aware of any fees associated with these transactions.

Step 4: Place an order

Next up, you should navigate to the trading platform on your chosen broker’s website or app. Look for the option to buy stocks and enter the stock symbol of the company you want to invest in (e.g., TSLA for Tesla). Specify the number of shares you wish to purchase and the type of order—market order (buy at the current market price) or limit order (buy at a specific price or better).

Review your order before confirming to ensure accuracy. Once confirmed, the broker will execute the trade, and you will become a shareholder in the chosen company.

Step 5: Monitor your investment

Investing in stocks requires vigilance. It’s, therefore, key to keep an eye on market trends, news related to the self-driving car industry, and the performance of your chosen company. Monitoring your investment regularly allows you to make informed decisions, such as whether to hold, sell, or buy more shares based on changing market conditions.

Pros and cons of buying self-driving car stocks

Pros

• Potential for high returns: The autonomous driving industry is poised for significant growth, presenting an opportunity for substantial returns on investment;
• Innovation and technological advancements: Investing in self-driving car stocks allows you to be part of the technological revolution shaping the future of transportation;
• Diversification: Including self-driving car stocks in your portfolio can provide diversification, reducing overall risk.

Cons

• Volatility: The stock prices of companies in emerging technologies can be volatile, leading to potential losses;
• Regulatory risks: The self-driving car industry is subject to evolving regulations, and changes in legislation can impact the companies involved;
• Technological challenges: Unforeseen technological setbacks or delays in development could affect the performance of self-driving car stocks.

If you’re interested in investing in the future of the automotive industry, feel free to check out our other guides on electric vehicles, such as:

• Top 5 EV Stocks to Buy;
• Top 3 EV Penny Stocks to Buy;
• 3 Best EV Truck Stocks;
• 3 Chinese Electric Car Company Stocks to Buy.

Common mistakes to avoid when investing in stocks

Some of the most common investing mistakes that you should avoid include:

• Emotional decision-making: Avoid making impulsive decisions based on market fluctuations or emotions. Stick to your investment strategy;

• Neglecting research: Inadequate research can lead to uninformed investment decisions. Stay informed about the companies you invest in and industry trends;

• Overlooking fees: Be aware of transaction fees, commission charges, and other costs associated with buying and selling stocks. These fees can impact your overall returns;

• Lack of diversification: While self-driving car stocks may be appealing, it’s essential to maintain a diversified portfolio to spread risk.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

FAQs about how to buy self-driving car stocks

Highly Rated Stock Trading & Investing Platform

• Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.

• 0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

• Copy top-performing traders in real time, automatically.

• eToro USA is registered with FINRA for securities trading.

30+ million Users

Get Started

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.