GOEV - Is Canoo Stock a Buy?
2023-05-02 10:02:00 ET
The small electric vehicle (EV) start-up Canoo (NASDAQ: GOEV) went public in the final days of 2020 when the market was booming and investors generally assumed EVs couldn't lose. To say that this previous sentiment has changed would be a huge understatement. While the S&P 500 has gained 12% since then, Canoo's stock has plummeted 95%.
Still, the U.S. is investing heavily in EV infrastructure, legacy automakers are transitioning their model lineups to EVs, and many consumers have warmed to vehicles they can plug in versus fill up.
But while the EV market is beginning to come into its own, Canoo is still struggling. And I think the company's spending and inability to ramp up production could be red flags for potential investors. Here's why.
For further details see:
Is Canoo Stock a Buy?