While NIO unveils the first offering under its new low-cost Onvo brand, its peer XPEV makes headlines with its plans to deliver its first flying car in 2026.
Slowing demand in the United States and stiff competition from Chinese EV makers in the world's largest auto market has hit demand for companies including Canoo. That has forced several startups to shut shop as investors have also grown cautious, making it difficult to raise more funds. EV startup Fisker had raised going concern doubts in February, followed by the delisting of its stock from the New York Stock exchange and the collapse of talks with a large automaker for a potential deal in March.
According to the average brokerage recommendation (ABR), one should invest in Canoo (GOEV). It is debatable whether this highly sought-after metric is effective because Wall Street analysts' recommendations tend to be overly optimistic. Would it be worth investing in the stock?