BUY Conviction3/5 Analysis quality65/100 if Canoo starts to deliver vehicles in 2024 and the order backlog picks up
Travis Hoium suggests that Canoo, despite its current poor financial position and low revenue, presents a compelling risk-reward opportunity. He argues that if the company can successfully bridge its current funding gap, begin vehicle deliveries in 2024, and leverage its relatively low operating expenses, it could achieve cash flow positivity faster than competitors. The modular design of its vehicles and existing order backlog also contribute to the potential upside.
“if canoe starts to deliver vehicles in 2024 and that order backlog which is about $3 billion today starts to pick up I think this is a really compelling company if it can survive”