REE EV Platform: Game-Changer For Auto Industry?
The car industry is always changing. New stuff happens a lot. One company called REE Automotive (NASDAQ:REE) is making news now. On March 16th, they talked about their money. They made less than what they wanted to ($0.09).
REE Automotive is mysterious in the industry of electric and self-driving cars, although they experienced a drop in productivity. The company is situated in Israel and boasts its adaptable EV platform that doesn't need distinct manufacturing or engineering procedures. Their modular platform can fit multiple types of vehicles such as light trucks, passenger cars, and delivery vans.
The way REE makes electric vehicles could change things. It might save money by making things simpler. Customization options could be better too. Cars will be better to drive with this new way.
But there are people who doubt REE Automotive's financial forecasts. They think that these forecasts don't show the current market realities well. They are worried about COVID-19 and how it affects the supply chains all over the world.
Some important investors believe in REE Automotive's vision. The biggest SUV maker in India, Mahindra & Mahindra and American car parts supplier Federal-Mogul LLC plan to invest $54 million and $9 million. They announced these investments earlier this year.
REE Automotive has caught the attention of big players in the car industry. We don't know if the company's platform will keep drawing investors and be a good choice for making electric vehicles in the future. These are uncertain times.
Cantor Fitzgerald Ups EPS Forecast For REE Automotive Ltd. Despite Neutral Rating
Eco-friendliness is important and electric vehicles (EVs) are a big part of that. Wall Street is paying attention to EV companies and their stocks. REE Automotive Ltd. (NASDAQ:REE) is one of those companies and investors are interested in it. Stock analysts are predicting that REE will earn more per share.
Cantor Fitzgerald is a famous finance company that just released a research note about REE Automotive. They think the company's EPS will be smaller, at ($0.35) instead of ($0.42). Even though they feel positive about the new numbers, Cantor Fitzgerald still has a "Neutral" rating for REE Automotive's stocks.
REE Automotive might make ($0.42) per share by the end of 2021. But, lots of investors are hopeful the company will do better. Bulls expect the company to grow. Investors are watching REE Automotive.
Cantor Fitzgerald analyst report made NASDAQ:REE shares open at $0.39 with lots of trading. Shares showed cautionary spikes being bought into against quick dips. The report showed optimism over stock performance and full-year earnings forecasts leading off future years.
REE Automotive's worth varied greatly over a year, from $0.27 to $1.74. This is because small companies often experience constant changes in their value.
This new projection is all about "optimistic fuel". It's inspiring people to invest in green technology that uses renewable energy. This is changing the traditional car models. Now we have advanced EV platforms that use smart technology. Everyone is aware of the impact this has on the economy and the world. It's helping us save energy.
Cantor Fitzgerald says REE Automotive Ltd. will make more profits. People want more electric cars. Companies like REE Automotive will be in high demand. They make digital platforms and have good engineering skills. This is good news for the electric car industry.
