Workhorse Stock has NEW Competition! Arrival (CIIC) stock merger! HCAC SPAC is now Canoo stock GOEV!

Today we are talking about Workhorse Group’s growing competition in the electric last-mile delivery market specifically Canoo stock which is going public through a special purpose acquisition company also know as a SPAC. Comment down below your thoughts on Workhorse stock. Canoo is one of the newer Electric last-mile delivery competitors that seek to dethrone Workhorse Group with their multiple purpose van that costs around $30k. Canoo’s commercial vehicle was announced 5 days before when their shareholders will vote to take the company public through a SPAC merger with Hennessy Capital acquisition corporation whose tick symbol is HCAC stock. This merger is set to raise Canoo stock around $600 million dollars which will be put towards further developing their delivery vehicles which come in 2 different sizes. However, Canoo’s vans will come out in a limited manner in 2022 but mainline production will take place in 2023 with preorders only costing $100 to reserve a vehicle before paying in full. Can stock is based in Los Angeles and they develop and design Electric cargo vehicles that are ideal for transporting small deliveries more often. By now you all probably know that Amazon has partner with another EV delivery company named Rivian who we will talk about later and Arrival has also come onto the scene who was hired by UPS not to mention newer complies like Canoo and ELMS also coming in on the last mile delivery market so workhorse better get their act together before other Electric last-mile delivery makers enter the market. Canon says that they are the best in the class total cost of ownership vehicle to cargo volume and that they are the best cost-effective option because of their cheap price tag, high roof height, and storage lockers, plus they have the classic roll-up style door and ramp similar to a U-haul truck. Canoo stock vehicles have ample space upfront so the drivers have space to put laptops and other electronics. The vehicle also comes with a bidirectional onboard charger that can be used to power tools or electric equipment just like a ford E-Transit van can. Canoo’s target markets are last-mile delivery providers, delivery fleet companies, major retailers, or large logistics companies. Canoo stock even gives these customers an option to co-develop a custom vehicle for their specific company needs which they are willing to help build. Canoo is just the latest company in a long line of other SPAC companies to invade the electric vehicle market which includes Hyliion, Nikola, Lordstown, and Arrival stock, along with many others that I have talked about on this channel. Most of these companies are still in their infancy which makes them very high risk but On December 21, 2020, shareholders of HCAC will vote to take Canoo public which will transform their ticker symbol into GOEV. Besides Rivian Workhorse is still one of the top Electric last-mile delivery makers but they better act soon before they are passed by younger companies which just makes the USPS contract more important for future contracts. I believe the best strategy right now for workhorse stock is to hold and wait for the price to spike again when you make a decision if you are selling or holding. The stock price will react to the USPS contract news. Workhorse has analysts scratching their heads and debating with each other. An analyst from Cowen saying that workhorse stock is worth $23 and says to buy while another analyst named Craig Irwin who used to be a big workhorse bull says to hold so many analysts are on the fence but the majority of analysts say to buy or hold as of right now. 2020 has been a great year for Workhorse stock, Tesla stock, and NIO stock, and the trend is set to continue but not without corrections and pullbacks. Workhorse still has weak fundamentals and financials but the USPS contract can fix this problem however if you are only betting on the USPS contract that may not be wise because nothing is set in stone yet. While workhorse stocks' future gains are unknowable I am still bullish because I believe in their technology just not at these prices. I am in it for the long game so please make sure you do not get burned on this stock.

#Workhorsestock #ARVLstock #GOEV

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Sources: https://www.freightwaves.com/news/can...

https://investorplace.com/2020/12/wkh...

https://seekingalpha.com/article/4395...