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GOEV
Stock ticker: NASDAQ
AS OF
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Price
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Capitalization
281.15M

GOEV Canoo Forecast, Technical & Fundamental Analysis

a blank check company

Industry MotorVehicles
Technical Analysis# Of IndicatorsAvg. Odds
   
   
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A.I.Advisor
a Summary for GOEV with price predictions
08:00 PM EDT Sep 21, 2023

GOEV's Indicator enters downward trend

The Aroon Indicator for GOEV entered a downward trend on August 28, 2023. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 224 similar instances where the Aroon Indicator formed such a pattern. In of the 224 cases the stock moved lower. This puts the odds of a downward move at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The 10-day RSI Indicator for GOEV moved out of overbought territory on August 31, 2023. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 32 similar instances where the indicator moved out of overbought territory. In of the 32 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Momentum Indicator moved below the 0 level on September 08, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on GOEV as a result. In of 81 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for GOEV turned negative on September 08, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 42 similar instances when the indicator turned negative. In of the 42 cases the stock turned lower in the days that followed. This puts the odds of success at .

GOEV moved below its 50-day moving average on September 06, 2023 date and that indicates a change from an upward trend to a downward trend.

The 10-day moving average for GOEV crossed bearishly below the 50-day moving average on September 13, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 14 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where GOEV declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

GOEV broke above its upper Bollinger Band on August 28, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Bullish Trend Analysis

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 10 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where GOEV advanced for three days, in of 163 cases, the price rose further within the following month. The odds of a continued upward trend are .

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating slightly worse than average price growth. GOEV’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.208) is normal, around the industry mean (6.761). P/E Ratio (0.000) is within average values for comparable stocks, (20.658). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (5.669). GOEV has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.040). GOEV's P/S Ratio (909.091) is very high in comparison to the industry average of (52.129).

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. GOEV’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 86, placing this stock worse than average.

A.I.Advisor
published Highlights

Notable companies

The most notable companies in this group are Tesla (NASDAQ:TSLA), Ford Motor Company (NYSE:F), General Motors Company (NYSE:GM), NIO Inc. (NYSE:NIO).

Industry description

Automobiles continue to be arguably the most popular form of passenger travel in the U.S., and major automobile makers have revenues and market capitalizations running into multi-billions. In recent years, the industry has been experiencing some path-breaking innovations like electric vehicles and self-driving technology. While there are long-standing companies like General Motors, Ford, and Toyota Motors operating in this space, there are also emerging/rapidly growing players like Tesla – which has had a major role in the growing popularity of the electric vehicle market. With technological advancements taking steam in the auto space, we’ve also witnessed collaborations (or talks of potential partnerships) of carmakers with tech behemoths like Google’s subsidiary, Waymo.

Market Cap

The average market capitalization across the Motor Vehicles Industry is 34.29B. The market cap for tickers in the group ranges from 2.49M to 811.59B. TSLA holds the highest valuation in this group at 811.59B. The lowest valued company is EVTGF at 2.49M.

High and low price notable news

The average weekly price growth across all stocks in the Motor Vehicles Industry was -4%. For the same Industry, the average monthly price growth was -4%, and the average quarterly price growth was 122%. YADGF experienced the highest price growth at 30%, while AYRO experienced the biggest fall at -32%.

Volume

The average weekly volume growth across all stocks in the Motor Vehicles Industry was -30%. For the same stocks of the Industry, the average monthly volume growth was -18% and the average quarterly volume growth was 28%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 47
P/E Growth Rating: 68
Price Growth Rating: 58
SMR Rating: 66
Profit Risk Rating: 85
Seasonality Score: -32 (-100 ... +100)
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Technical Analysis# Of IndicatorsAvg. Odds
   
   
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A.I. Advisor
published Earnings

GOEV is expected to report earnings to fall 14.07% to -12 cents per share on November 13

Canoo GOEV Stock Earnings Reports
Q3'23
Est.
$-0.12
Q2'23
Beat
by $0.06
Q1'23
Missed
by $0.03
Q4'22
Beat
by $0.10
Q3'22
Beat
by $0.13
The last earnings report on August 14 showed earnings per share of -14 cents, beating the estimate of -20 cents. With 13.75M shares outstanding, the current market capitalization sits at 281.15M.
A.I. Advisor
published General Information

General Information

a blank check company

Industry MotorVehicles

Profile
Fundamentals
Details
Industry
Trucking
Address
19951 Mariner Avenue
Phone
+1 424 271-2144
Employees
812
Web
https://www.canoo.com
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GOEV and

Correlation & Price change

A.I.dvisor indicates that over the last year, GOEV has been loosely correlated with WKHS. These tickers have moved in lockstep 46% of the time. This A.I.-generated data suggests there is some statistical probability that if GOEV jumps, then WKHS could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To GOEV
1D Price
Change %
GOEV100%
+1.51%
WKHS - GOEV
46%
Loosely correlated
-9.06%
LCID - GOEV
39%
Loosely correlated
-1.16%
RIVN - GOEV
39%
Loosely correlated
-4.37%
TM - GOEV
36%
Loosely correlated
+0.43%
SOLO - GOEV
36%
Loosely correlated
-1.04%
More

Groups containing GOEV

Correlation & Price change

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To GOEV
1D Price
Change %
GOEV100%
+1.51%
Motor Vehicles
(undefined stocks)
46%
Loosely correlated
-0.34%
Consumer Durables
(undefined stocks)
29%
Poorly correlated
-0.25%