Canoo = CAN gO to the moOn
Canoo, under the code GOEV, has already received an order for 4,500 electric vehicles from Wall Mart and an option for another 10,000 vehicles. Both the initial and subsequent orders are valid on the condition that the company is able to set up the required production line. The estimate for the cost of this line is about $2 billion. At the same time Wall Mart has signed up to exercise options at $2.2. Wall Mart has nothing to lose, only to gain from this deal.
We're going to Canoo under the code GOEV
Before it signed with Wall Mart, it had nothing in its possession to help it implement its plans. Now it had an agreement with Wall Mart. Is it reaching? Maybe it will. But certainly if she can't build a production line with that agreement in her hands, she will reasonably never be able to. Of course, everyone has shorted the stock on the basis the company will be forced to issue new shares to get the cash it needs. It seems a very easy bet for those who have shorted.
Let me start with a few questions to provide food for thought:
1) How often has the Vast Majority fallen in on its stock market bets?
2) More than 36 million shares are already short and the average volume for the twelve months is about 4 million shares. I have the feeling that if the stock goes over $5 everyone will look to close positions and the door will be very narrow, and the stock will probably post high double digits in consequence. What do you believe?
3) Why would Wall Mart waste time and sign with Canoo and not sign with a company that already has a production line?
Submitted August 05, 2022 at 10:50PM by Stockstradamos
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