#5 - Canoo (NASDAQ:GOEV)
You may notice that this list of stocks has been lacking some of the SPAC stocks that proliferated in 2020. There’s a reason for that. They’re speculative stocks. And right now, I’m looking at stocks that I believe have a stronger case. One of them is Canoo (NYSE:GOEV).
The key to Canoo’s success may be that it is offering something that is truly different. Its initial offering is expected to be a multipurpose delivery vehicle (MPDV) that is somewhat like a “party bus.” The company uses a “by wire” system as part of its “skateboard” platform. This will be a key to any autonomous driving capability.
And Canoo is also getting into the commercial space with a last-minute delivery vehicle that uses the same skateboard platform.
Another feature of Canoo that shows a lot of promise is that rather than selling their vehicles, it plans to use an SaaS model. Consumers lease the vehicle for a specified term. When they’re finished they return it. This will allow the company to lease the car to several different owners.
About Canoo
Canoo Inc, a mobility technology company, designs, develops, markets, and manufactures electric vehicles for consumer, commercial fleet, government, and military customers in the United States. the company utilizes its multi-purpose platform architecture, a self-contained, fully functional rolling chassis that directly houses the critical components for operation of an electric vehicle, including its in-house designed proprietary electric drivetrain, battery systems, advanced vehicle control electronics and software, and other critical components.
More about Canoo- Current Price
- $0.34
- Consensus Rating
- Hold
- Ratings Breakdown
- 2 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $42.63 (12,291.0% Upside)
