On Monday, shares of electric vehicle maker Canoo (NASDAQ: GOEV) plummeted after the company announced a $52.5 million registered direct offering at a 16% discount to where shares were trading right before the announcement was made.
Of course, 16% is barely an accounting error when you look at how far the stock has fallen since it went public at around $18 a share in December 2020.
Based on the most recent financing at $1.05 a share, the stock is down 94% since its debut.
It's worth noting that Canoo makes a pretty unique and interesting vehicle — like this delivery vehicle it’s making for Walmart, which ordered 4,500 of these things…
But “pretty interesting” doesn’t cut it.
The fact is, while the electric vehicle market is on fire, only a few EV companies are actually delivering for investors…
And those tend to be the least obvious plays. Our analysts have traveled the world over, dedicated to finding the best and most profitable investments in the global energy markets. All you have to do to join our Energy and Capital investment community is sign up for the daily newsletter below.
Take, for instance, this electric bus manufacturer, which earned nearly $100 million in revenue in Q3 2022, selling nothing but electric buses, charging stations, and batteries to municipal fleet operators across the globe.
Of course, it doesn’t hurt that it’s also in bed with Komatsu, which earned nearly $30 billion in 2022 revenue, and Van Hool, one of the largest bus manufacturers in the world.
When investors think about the electric vehicle market, most just think about passenger cars, and for good reason.
We see them all over the roads.
Teslas, Chevy Bolts, Ford electric F-150s, Hyundai IONIQ 5s…
But how often do you see electric buses?
I’m guessing hardly ever, which is interesting when you consider that the U.S. electric bus market grew by nearly 70% from 2021 to 2022.
Of course, this is something most people couldn’t possibly know about because transit bus data isn’t regularly reported on in the mainstream media.
But with so much money at stake, you can rest assured that we pay very close attention to this market data as it provides us with the insight we need to make smart investment decisions.
Yes, I realize that electric buses may be quite boring when you compare them with Cybertrucks and electric Hummers, but there’s nothing boring about their profit potential.
In fact, I would argue that the biggest winners in the electric vehicle market this year will be the companies making these buses and the components these buses require for manufacturing.
That’s why I put together a short report that identifies the key players in this space and, of course, how you can start profiting from them today.
You can learn how to access this free report here.
To a new way of life and a new generation of wealth… Jeff Siegel
@JeffSiegel on Twitter
Check us out on YouTube!Jeff is the founder and managing editor of Green Chip Stocks. For more on Jeff, go to his editor’s page.
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