New Delhi, July 5 -- Gas prices spiked this year, and Tesla just had its best Q2 ever with deliveries up 25%. So the story can be: oil goes up, people buy EVs, So, should we consider investing EV stocks now?

"One should be careful about the betting on EV stocks based on that theory," asserts Viram Shah, Founder & CEO, Vested Finance.

"Tesla reports these great numbers, and the stock falls about 7.5% the same day. Its worst day in nearly a year. So sales went one way and the share price went the other," he says and that this is not really an aberration, as a carmaker's delivery numbers and its stock performance do not always move in tandem.

"And the oil shock part? That's a spike. The Strait of Hormuz situation is already easing, pump p...