CYN - Cyngn Looks Overvalued Based On Fundamentals
- Cyngn is an autonomous vehicle technology company which listed on NASDAQ in October 2021 through a $26.3 million IPO.
- The company is spending only around $5 million on R&D per year, and I doubt it will be able to achieve its ambitious growth plans.
- Cyngn’s market valuation has more than tripled over the past week and I think the reason behind this is high retail investor interest.
- In my view, the share price is likely to fall back to below $1.50 in the near future as retail investor interest gradually fades off.
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Cyngn Looks Overvalued Based On Fundamentals