Recently, a new EV company named Canoo went IPO, with the CEO attempting to ride the EV hype. In this video, I cover how Canoo looks to rip off investors.
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With tesla stock going up a massive amount over the past few months, many ev companies have popped out of nowhere, claiming that they are the next tesla, most notably nikola motors and fisker automotive. These automakers claim to have groundbreaking battery technology that surpasses teslas on all scales possible, but we're also showing our new battery technology that i talked to stuart about last time and this time i actually brought it with me, which is solid state battery technology, which this allows. You to charge in one minute and get more than 700 miles if you want into a vehicle, so this is cool because all the haters out there, like, oh you, guys, don't do anything. These battery modules are absolutely kick-ass check this out this stuff right here you can see all the copper bus bar collectors.
Most recently, a new eevee company named canoe went ipo through spac, under the ticker symbol, hcac and unlike nicola and fisker, which have suspiciously groundbreaking technology. This company is just absolutely ridiculous. The ceo is clearly attempting to rip off investors by giving a sense that his company is the quote. Unquote next tesla in this video i'm going to go over how canoe looks to ride the eevee hype and rip investors off if you're new to the channel.
Please consider subscribing for more content like this and let's get right into it. In 2017, two faraday future executives named stefan and ultrich, created their own company named evolsity, which was eventually renamed canoe at the time, faraday had just released its ff-91, which malfunctioned at its recent event. When demoing the auto valet feature on the ff91, the car failed to move. Thank you now, yt.
I would like you to send the car onto center stage in the way that you would do it if you arrived home one evening and ready to send the car to the garage. So using the auto valet park just press the button and it will find its way to the guard. What, after realizing the failure? Faraday turned off the lights on stage and sent a man in a black suit to drive the car. The automaker claims that the vehicle was driving on its own when the reality was that a person was driving.
It see if she'll then become a little more brave right after the deceptive scheme at faraday future. Stefan and orig left faraday to start on a clean slate at canoe at a starting valuation of 2.4 billion dollars. Canoe is certainly overvalued to the next level. Similar to faraday.
Canoe has centered its business model over an impractical prototype which the company likely spent millions of dollars to develop this vehicle. Quote-Unquote comes in all colors as long as it's black, the car comes in any color. You want as long as it's black canoe attempts to make its business model seem futuristic when the reality is that the idea has been here for decades in rental car companies i'll let jay leno explain it in the following clip. So the idea here you as a subscription - i just sign up - i pay three four five hundred a month, but that's insurance. That's everything! Everything! There's no down payment! I don't own a! I don't owe a big chunk of money at the end of the the subscription period you just whatever you subscribed it for that's it is that right, yeah, it's just like you described it. It's uh, it's all inclusive, uh, no down payment, um, no commitment! Now, canoe's business model may sound impressive at first you'll, be able to rent out a vehicle by paying a rental fee every month with no down payment whatsoever. However, a deeper look reveals many problems with the model, for example, if the vehicle is damaged and there's no down payment, how could canoe be able to retrieve its money? The short and simple answer is that canoe won't be able to get back a large portion of its money on damaged vehicles. The people that rent out the vehicles don't have much money and if they did, they would be better off purchasing an electric vehicle for themselves.
As a result, many of those people who damage the vehicle will either hold off on paying the fees or not pay at all. This is the recipe for disaster and bankruptcy. Another vaporware statement that canoe makes is its autonomous driving technology, as the company claims that its autopilot software is already at level 2.5, which they put into perspective, is a higher level than teslas now. Is it autonomous as well? It does have autonomous features.
That's for sure. We call it something like a level 2.5 out of the five number ranking system. This is a statement that is beyond ridiculous, as the company has only produced 35 vehicles that have no lidar technology with such a small data set and no advanced technology to effectively operate in the real world. Canoe gives off a sense that it's the next faraday future.
So using the auto valet park just press the button, and it will find its way to the guard similar to trevor milton from nikola motors canoe, doesn't even have a location chosen for its factory but is afraid to admit it on live television when asked about where Canoe's vehicle will be produced on cnbc, the ceo dodged. The question, which comes off as extremely skeptical pay close attention to how the ceo doesn't answer the interviewer's question of. Where are you going to build the vehicle you're planning to roll out that vehicle? That's behind you, which is also called canoe, you're planning to roll that out on a subscription model basis by 2022.. First of all, where are you going to build it and, second of all, do you really believe that there is a market out there, especially in urban markets, for this subscription model when it comes to evs like that yeah absolutely so we are rolling out the vehicle Uh at the beginning of 2022 to be precise in q2 2022 and there is a huge market for a vehicle at our size.
Our vehicle is actually sitting on a unique architecture and it has a huge interior space with its sketchy business model and vaporware claims. Canoe may seem like a joke to many of you. After all, who would even buy the stock one youtuber named angel investor has invested into the company for quite a strange reason in this video we're gon na be talking about canoe, uh hcac. I just bought some of the stock. Why? Because it was sitting at 10.49. That is my only reason why i bought it. If we look from a charting perspective, the worst worst case scenario, this stock goes all the way down to 9.75. I would lose you know.
I mean it could go below that. Obviously you know anything's possible in the markets, but i don't think so. I think the worst case scenario will go to is 9.75. It's sitting at 10 bucks.
10. 49. I bought a little bit of shares. Why? Because i don't think you can go any lower, i think the only option for the stock is to go up, so i bought some.
Is it a good company, good investment? I really don't know. I haven't done too much research. I bought some because i just thought that this is the bottom and it it mean it could get a little bit worse, i mean yeah. I could see another 75 cents dip, but i'll just buy a little bit more.
If that's the scenario buy more, if that's a scenario i mean eventually, it's gon na have to go back up. At least i hope i don't know it seems to be that canoe is attempting to learn investors who haven't done much research on the company. I wouldn't exactly call it a fraud, as there aren't any suspiciously groundbreaking claims made. However, canoes executives certainly know that they're taking advantage of the ev bubble after seeing nikola motors and many other eevee companies go parabolic for those of you watching.
Let me ask you a question: if you're looking for the next tesla, why don't you just invest in tesla, it's right in front of you and has much more potential over the long term. Let me know what you think about canoe in the comment section below. If you enjoyed this video, please hit the like button and subscribe and i'll see you in the next one. You.
l recommended a professional broker to you guys sometime ago, can I get person who invested with her
comment below
let's gooooo
The dude at the end should really stay away from youtube.
damaged vehicles would likely be reimbursed a tax writeoff. just like every time you return a damaged product to amazon, that comes out of their taxes.
Its at 17 right now. PT is 50-100 by end of year.
That moment you realize Apple will acquire this
This youtuber knows nothing about investing.
If you don’t understand how this model is disruptive and
More appealing than Tesla to approximately half of potential car owners – you’re seriously not intelligent about this topic and nobody should listen to you
"I dont know… I just buy the stock, because its at the bottom" hahahaah yup lots of new work from home donkey traders in 2020.
I get the sketchy background of the co-founder who has since stepped down. However, this analysis is a bit thin and odd. Can't recover costs from damaged cars? Have you heard of insurance? The premium could just be backed into the subscription cost. Also, including the random youtuber's video was bizarre. Why do we care what this person (sounds like a child in their mom's basement investing lunch money) thinks? I'm sure you could find wacky videos like that for any company, especially SPAC transactions. I seriously doubt these guys are the next Tesla but I don't think they should be completely discounted.
I've said this before, but your channel is a joke for real investing news. Canoo hasn't once said they are a Tesla Killer, I don't think you know what quote unquote means. You obviously don't know how insurance works. You also didn't look into the company since you completely ignored the steer by wire tech and the skateboard platform.
Why is there so many “Tesla killers” ? But Tesla is still alive and winning ? AT EVERYTHING !!
Alot of FAKE NEWS going on around here
Casgains Academy sounds like a Tesla fan boy. Not saying Canoo is a great company, but come on damaged cars? Have you ever heard of insurance? You have given no proof to support your claims.
People won't be able to pay if they damage the vehicle, so write it off? What does this guy think insurance is for on a vehicle when he says that. He also made fun of the guy investing at $10.45 when the stock has a NAV of about $10.23 meaning if you buy below $10.23 you are guaranteed a profit. So much for the research you do for your videos bud. He also goes on by saying if you do research into the company you see it has nothing to it? What research did he do when making the video where he conveniently ignored Canoo's last mile delivery vehicles and their skateboard platform which are supposed to be their largest revenue generators. I drive a Model 3, and am invested hard into Tesla, but this video was a complete joke my dude.
go to GM they will buy anything.
Are there any other ev company other than tesla that you stand behind?
I’ve seen some of Angel investor videos and that guy is hands down one of the dumbest fucking investors I’ve ever heard. Him and this guy Maison Mathews who invested his life savings into gnus at 4$, let it go up to 11$ and still held until it was only 1$ and sold then. As for Canoo, the HCAC Merger, yes this video makes it look really bad, yes I can understand the worries of the never owning subscription base. However I’ve done extra research and let me tell you some good factors on it. Hcac is a low price to get in on now, canoo also is in talks of partnering with Wal-Mart, Kia and Volkswagen, They have good revenue and a lot of money, Jay Leno gave a good review on the vehicle which is good publicity for it, I understand not being able to own and it being a rental type car but what if it’s not meant to be that type of vehicle? Clearly it’s in talks of partnering with Wal-Mart for being a package delivery type vehicle, it could one day be a new delivery vehicle also for amazon and many other big companies, it’s a company vehicle type deal and most people are completely over looking that and only thinking about it as they can’t own it. I think long term canoo has huge potential, but that’s just my opinion. I could be wrong however I did call it on Netflix when I was 14 when everyone laughed about that too because all Netflix was during that time was just ordering dvds online and having them sent to your mailbox. But it’s fine, I’ll get rich on canoo while everyone else sticks to their Tesla and Apple
And a nother one. Could someone please count the Tesla killers? Not working at presentation doesn't worry me that much as long as it had a engine in the first place. $50 looks like a good investment.
Easy to make a video , it’s Tesla that makes it happen in real life and already started , everybody e;se we alway be behind tesla
OMG these youtubers that download Robinhood and they believe they are investors when they have no idea how to read a 10k or make any kind of intrinsic value analysis… Guys like you that put money on things that they don't understand because they are trending is what makes people lose money
SPAQ – Fisker is the next $100 stock
these ev companies that arent tesla or rivian are legit boomers😭
2.4 bil/0 = infinity, which is bigger than any PE ratio.
I was owned HCAC for 3 days when I realized that the Canoo product will fail, b/c how many people will want to rent for ~$900/mo that carries 7 people? Maybe a greek system house at your state universities. However, Canoo has a relationship with Hyundai for manufacturing that may have been subsequent to the CNBC appearance.
We don't care . Tesla is far better than you.
Why would you need a subscription when a pay per use system would work better. This is not a gym membership…lol as far as a kid investing who knows nothing about investing. That's just gambling.
I am glad I watched the whole video. The kid at the end is the best part.
Tesla killer? because they’re all dying from laughter!!😂😂😂
NIO feels the same way, damn, and I'm invested in Tesla, I know I need to do better. lol
One day, there'll be a next Tesla. Could be tomorrow (incredibly unlikely), could be in 1 year, could be in 10, could be in 50. Nobody knows. For the moment, there is Tesla. It has no serious rivals in what it does. Although legacy car makers have produced a few impressive EV's (and lots of duds), their production capacity remains tiny, and their commitment to the overhaul of their businesses is, in almost all cases, questionable. Obviously, for a legacy car company, moving to electric at a speed that will allow them to compete with Tesla will be equivalent to ripping up (and writing off) 80% of their existing businesses and starting from scratch. If they want to survive, it's still their only option. But they don't realise this yet. In the meantime, trying to pick the "next Tesla" has odds similar to a casino. Insiders, as with the cases highlighted here, will make out like bandits at the effectively fraudulent IPO stage, and then hire very good lawyers to keep angry, ripped off, rubes from reclaiming their lost money. The legal system will favour the fraudsters. That said, I'd still agree a bit with some of the comments here that Canoo itself is not really like many of the others. They are proposing something fundamentally different. What they are proposing may very well be a total fantasy business model that hasn't got a cat in hell's chance of working. But they aren't really proposing to do what Tesla does.
I also have a Tesla killer. I am going to show off the vehicle next week and go IPO next month. You should buy our stock quick before it reach $1000 per share
That youtuber buying HCAC stole the show, he is absolutely fucking hilariously dumb
This Angel investor guy is on to something here…
The man can't even use proper grammar!