Wallstreet Bets

Seeing as there is pretty much no WSB style content being posted, why not a bit of a DD? Well, a half assed DD. I'm just playing in a funny money account, so this is just for moonshot plays, but I think GOEV might just be one of those.

Canoo (ticker: GOEV) is a company based out of Michigan/ Oklahoma/ Texas, who is a US, home grown, battery EV cargo and van production company. They've been taking their time, but between last earning and this one, they shipped their first vehicles. They're just now begining to ship vehicles, so unsurprisingly, haven't posted a profit yet.

I've been holding GOEV since I saw some trailers for their Canoo vehicle, and the stock has been in a tailspin for quite a while now. The short position seems to be covering in about 1.5 days, so surprisingly not terrible. My thinking here is to be positioned for some good news. Earnings is on March 5th. My main thesis for this play is that they've just had a bunch of great press this quarter. They got vehicles into the hands of the Oklahoma state government, US Postal service, and some other federal agencies. This company seems to be focusing more on fleet, which to me, last mile delivery at low speeds is like a no-brainer for battery EV. I think the vans might be just dorky enough for the Federal government to consider them.

My play is just holding shares, because the price is so low (I nailed it on a similar play with Sundial when it was a penny stock). I'll probably double my current position (just a couple thousand shares) and hope for a pop next week. If it doesn't pop, I'll probably either fold or hold for another quarter depending on the numbers.