What is the latest word on nvve (V2R)Is this the next wave?
The stock is a short.
Bryan,
First of all, congrats on being lucky enough to live in Florida, whose governor is likely to be our next president and whose policies all sensible people applaud. Second, before investing in IPOs, you need to understand how they get priced and traded. The Investopdia article is a good start. But a thumb-nail version is this. <b<>Don’t unless you know how to manage their risks, which are excessive and well-documented by studies showing that nearly all IPOs lose their buyers money the first year or so. So, who makes money on them? The underwriters and the company that issued them, but not them who jumped into them early, thinking they were “getting in on the ground floor” of the next financial miracle.
From your question, I’m guessing you’re long, didn’t trail a stop, and are now down from where you bought. YTD, NVVE is down (-42%), whereas one of its competitors --also priced at $17, as NVVE once was-- is up 66%. In fact, if NNVE declines another four bits, it officially becomes “a penny stock”.
What to do next is hard to say, because the company’s prospects are pretty shaky, like, there’s been significant insider selling the last three months, and the company is both unprofitable and doesn’t have meaningful revenue. On the plus side, their balance sheet is clean, and they have at least 1 year of runaway cash. So, the company isn’t likely to file BK in the next year, even in a bad economy. But with what is happening the energy sector, the “green energy” dream is more likely to become a nightmare for NVVE, as more and more of the utility companies running the grid balk at buying power from EV car owners and as fewer and fewer EVs get sold as householders scramble to find money to put food on the table instead of trying to buy cars they can’t afford --nor need-- with money they don’t have. That’s what going to kill EVs. They aren’t “people’s cars”. They’re toys for the uber rich whose privileges are being increasingly resented by them who do the work in this country.
Arindam
https://www.investopedia.com/investing/tips-for-investing-in…
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