If You Invested $1,000 in Canoo When It Came Public, This Is How Much You Would Have Today
There are some things that happen on Wall Street that you just can't afford to ignore. Canoo (NASDAQ: GOEV) has just done one such thing, with a few other troubling facts adding to the risk profile. When you see how much money investors have lost, it should be clear that this is not a good long-term investment for most people.
Electric vehicles (EVs) are an increasingly important part of the auto sector, and that isn't likely to change anytime soon. In the early days, as with most new industries, it seemed like there was a huge open opportunity for new companies to jump into the space. As the major automakers have started to more aggressively build EVs, that opportunity has quickly narrowed. This is typical in the business world, with a lot of companies jumping on an idea that can really only support a small number of success stories. Given the reach and scale of combustion engine car makers, it probably wasn't realistic to believe that more than a couple of electric upstarts could compete long term.
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Source Fool.com
