At GOEV current low price, are you concerned about a NASDAQ delisting or reverse split before the expire date? Just curious if that makes a difference to people when selecting an option.
Yes, these would be bad signs. Split is bad as well b/c some brokers charge a split-fee to holders, which I find ridiculous, a street robbery, IMO. SEC sleeping again...
I don't have the best faith in Wedbush. After all, they issued a sell rating and PT of $65 for SMCI, which recently trades around $300. BUT....Friday they initiated GOEV as an outperform with a 12 month PT of $4. I really like the potential this stock has. They have "fly by wire" and the "top hat" configuration. That means no steering wheel...you can configure the interior any way you want. I also think it's becoming clear that the EV market is going to be limited and has the best potential in last mile delivery. It's a lottery ticket for sure. https://www.canoo.com/ __________________________________________________________________________ Canoo Inc (NASDAQ:GOEV), a California-based electric vehicle startup, is a “unique commercial and military EV play,” according to analysts at Wedbush initiating coverage of the company on Friday. The company issued an Outperform rating and a price target of $4, nearly 20x the company’s midday trading price of $0.20. A big part of Canoo's appeal is its position in the last-mile delivery market, the firm noted. The company is partnered with Walmart and has an order book of more than $3 billion along with over $750 million in committed orders, which essentially sells its production until fiscal 2025. “Canoo is poised for a golden opportunity on the last-mile delivery landscape while the electric battery market continues to heat up,” the analysts wrote. “Demand for lower mileage travel and greener delivery vehicles with average route length decreasing by 34% since 2000 continue to be a theme across the industry.” The company’s first vehicle is the LDV (Lifestyle Delivery Vehicle), which is expected to be produced in two sizes. One is known as the Multi-Purpose Delivery Vehicle, and the other is the Pickup Truck. Looking ahead, Canoo is moving toward a production run rate of 20,000 units by the first quarter of 2024 at its Oklahoma City and Pryor, Oklahoma facilities. “We believe the current climate is favorable for Canoo at this point as we are in the early innings of this $5 trillion market EV opportunity over the next decade with the auto industry is going through one of the biggest transformations not seen since the 1950s,” analysts wrote. “Although in the infancy stages of its growth story, we believe it is important to keep an eye on this EV manufacturer chipping away at market share as this growth story unfolds.”