Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Better EV Stock: Nikola Corporation vs. Canoo

TheMotleyFool

0 0

Better EV Stock: Nikola Corporation vs. Canoo: https://g.foolcdn.com/editorial/images/749795/nikolabev.jpg

Nikola (NASDAQ: NKLA) and Canoo (NASDAQ: GOEV) are electric vehicle (EV) makers, and both of them burned the bulls after they went public by merging with special-purpose acquisition companies (SPACs) in 2020. Nikola's stock closed at a record high of $79.73 on June 9, 2020, but it now trades at just over $1. Canoo's stock hit its all-time high of $22 on Dec. 10, 2020, but it's now worth less than $1.

These EV companies struggled to ramp up their production, broadly missed their pre-merger growth targets, and racked up steep losses. Should bold investors bet on either of these out-of-favor EV stocks today?

Image source: Nikola.

Source Fool.com

Like: 0

GOEV

Share