r/investing Apr 13, 06:24 PM
This $3 EV stock quietly doubled deliveries… and nobody seems to care yet I randomly came back to Canoo Inc. and was surprised how different the story looks compared to a year ago.
Back then it felt like just another EV concept company. Now there’s actual execution happening. They’ve been ramping production and started delivering vehicles, including contracts tied to government and commercial use cases.
What I find interesting is the niche they’re going after. Instead of competing directly with Tesla or Rivian on consumer EV hype, they’re focusing on fleet vehicles - vans, last-mile delivery, utility use. That market is way less crowded and potentially more predictable.
The stock is still sitting in that low single-digit range, around a few dollars, which usually means expectations are low. But at the same time, they’re actually moving forward with real-world deployments.
EV demand overall hasn’t disappeared. If anything, governments and corporations are still pushing electrification, especially for fleets where cost savings matter more than branding.
Feels like one of those situations where sentiment hasn’t caught up to execution yet. Not saying it’s risk-free, but it doesn’t look like a “pure hype” story anymore either.
Anyone else been tracking fleet EV companies instead of the usual consumer names?
submitted by /u/TrentAshwell
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