breAkdaWn
2022-01-27
management guys left the company? rats leaving a sinking ship?
Investing in Canoo Comes With a Bucket-Load of Risks
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GOEV stock has fallen more than 70% from its 52-week high price of $18.88. Overall, its first year of trading was forgettable.</p><p>2022 could be a landmark year for the company, though. It expects to release its lifestyle vehicle during the second quarter this year. Moreover, Canoo announced several key milestones in November, including the development of an industrialization facility in Arkansas.</p><p>These developments should’ve had investors salivating over its prospects. However, the opposite has transpired so far.</p><p>GOEV stock trades below its $10 SPAC price and is now flirting with penny stock territory. It does, however, trade at an attractive valuation compared to other pre-revenue-stage EV companies. Nevertheless, Canoo remains a risky bet despite the impressive strides it has made with its business.</p><p><b>Management Shake-Up</b></p><p>It’s typically not normal for a company to go through multiple c-suite changes within a few months. However, Canoo announced yet another shakeup of its top-tier management in December last year. It had just changed up its leadership team a few months prior in April 2021.</p><p>The EV startup lost three key executives, including Peter Savagian, the company’s chief technology officer (CTO). Moreover, the heads of Canoo’s powertrain and vehicle program divisions have also left their positions.</p><p>The company is now down to three of its founding members, including Sohel Merchant, who will assume the role of CTO from Savagian. Its chief designer Richard Kim will be taking over as creative content head, while Christoph Kuttner will be in charge of the trims of Canoo’s vehicles.</p><p>In 2020, we saw the company’s founder and former <b>Bayerische Motoren Werke</b>(OTCMKTS:<b><u>BMWYY</u></b>) (BMW) executive Stefan Krause resign from his post as CEO right before it went public. Ulrich Kranz, another former BMW executive, took over as CEO but resigned in April last year.</p><p>Canoo has been hush-hush about these changes, citing the company’s manufacturing ramp-up. However, there’s a lot more to the development process than what meets the eye at this time. With so many of the startup’s founders leaving the company, it’s tough not to question its long-term prospects.</p><p><b>The Outlook for GOEV Stock</b></p><p>In a press release from Canoo last month, the company announced a major hike in vehicle production targets for 2022 and 2023. This year, the company expects to produce between 3,000 and 6,000 EVs, a massive bump from its previous guidance of 500 to 1,000 units. In 2023, Canoo expects to deliver 14,000 to 17,000 units ahead of its 15,000 units guidance.</p><p>The Federal Reserve’shawkish stance is a major concern, though, at this point. This year, it will reduce stimulus initiatives and is likely to increase interest rates by a substantial margin. Hence, this points to a rough economic time ahead for Canoo and the EV sector in general.</p><p>The company is still in the pre-revenue stage, and the macro-economic challenges aren’t helping. Therefore, its stock price will probably drop further for the foreseeable future.</p><p>GOEV stock’s negative streak is likely to continue amidst an uncertain economic outlook and its underlying business risks. Though Canoo has laid down some lofty targets this year and beyond, it’s still too early to comment on whether it can have a lasting foothold in the cut-throat EV market. Hence, it’s more of a high-risk, high-reward play.</p></body></html>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Investing in Canoo Comes With a Bucket-Load of Risks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nInvesting in Canoo Comes With a Bucket-Load of Risks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-26 17:41 GMT+8 <a href=https://investorplace.com/2022/01/investing-in-goev-stock-comes-with-a-bucket-load-of-risks/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of up-and-coming electric vehicle EV startup Canoo(NASDAQ:GOEV) have shed more than 40% of their value in the past six months. GOEV stock has fallen more than 70% from its 52-week high price of...</p>\n\n<a href=\"https://investorplace.com/2022/01/investing-in-goev-stock-comes-with-a-bucket-load-of-risks/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOEV":"Canoo Inc."},"source_url":"https://investorplace.com/2022/01/investing-in-goev-stock-comes-with-a-bucket-load-of-risks/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124851277","content_text":"Shares of up-and-coming electric vehicle EV startup Canoo(NASDAQ:GOEV) have shed more than 40% of their value in the past six months. GOEV stock has fallen more than 70% from its 52-week high price of $18.88. Overall, its first year of trading was forgettable.2022 could be a landmark year for the company, though. It expects to release its lifestyle vehicle during the second quarter this year. Moreover, Canoo announced several key milestones in November, including the development of an industrialization facility in Arkansas.These developments should’ve had investors salivating over its prospects. However, the opposite has transpired so far.GOEV stock trades below its $10 SPAC price and is now flirting with penny stock territory. It does, however, trade at an attractive valuation compared to other pre-revenue-stage EV companies. Nevertheless, Canoo remains a risky bet despite the impressive strides it has made with its business.Management Shake-UpIt’s typically not normal for a company to go through multiple c-suite changes within a few months. However, Canoo announced yet another shakeup of its top-tier management in December last year. It had just changed up its leadership team a few months prior in April 2021.The EV startup lost three key executives, including Peter Savagian, the company’s chief technology officer (CTO). Moreover, the heads of Canoo’s powertrain and vehicle program divisions have also left their positions.The company is now down to three of its founding members, including Sohel Merchant, who will assume the role of CTO from Savagian. Its chief designer Richard Kim will be taking over as creative content head, while Christoph Kuttner will be in charge of the trims of Canoo’s vehicles.In 2020, we saw the company’s founder and former Bayerische Motoren Werke(OTCMKTS:BMWYY) (BMW) executive Stefan Krause resign from his post as CEO right before it went public. Ulrich Kranz, another former BMW executive, took over as CEO but resigned in April last year.Canoo has been hush-hush about these changes, citing the company’s manufacturing ramp-up. However, there’s a lot more to the development process than what meets the eye at this time. With so many of the startup’s founders leaving the company, it’s tough not to question its long-term prospects.The Outlook for GOEV StockIn a press release from Canoo last month, the company announced a major hike in vehicle production targets for 2022 and 2023. This year, the company expects to produce between 3,000 and 6,000 EVs, a massive bump from its previous guidance of 500 to 1,000 units. In 2023, Canoo expects to deliver 14,000 to 17,000 units ahead of its 15,000 units guidance.The Federal Reserve’shawkish stance is a major concern, though, at this point. This year, it will reduce stimulus initiatives and is likely to increase interest rates by a substantial margin. Hence, this points to a rough economic time ahead for Canoo and the EV sector in general.The company is still in the pre-revenue stage, and the macro-economic challenges aren’t helping. Therefore, its stock price will probably drop further for the foreseeable future.GOEV stock’s negative streak is likely to continue amidst an uncertain economic outlook and its underlying business risks. Though Canoo has laid down some lofty targets this year and beyond, it’s still too early to comment on whether it can have a lasting foothold in the cut-throat EV market. Hence, it’s more of a high-risk, high-reward play.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1891,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":53,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/639170492"}
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