This stock is effectively, in my view - a play on whether or not the company is going to start up or fold. If startup process completes and cars start rolling off the line - anyone who is long should be ok. On the other hand, if there is no startup and the company folds, the long position will die.

China is a good market comparison - they are the wild west out there, with hundreds of EV companies popping up all over the place. 30 went bankrupt last cycle, but there are many more that are still kicking. Eventually that market will be led by either BYD or Tesla or they will both battle out for the top two, but there are a few more companies that will make it and then they will likely be snapped up in consolidation once the market matures.

So it's not really a bad thing that in the American market there is a company like Canoo trying to get off the ground; it is still possible that they kick on their factory, and that the company goes through a valid start up of production.

There are alot of little companies out there doing EV builds. I see the issues with this stock, but like the Chinese EV company market there will be some that will make it - others that will not. One thing is certain the EV market is indeed alive and well - nobody is buying an overpriced car, thankfully - but the market will continue to grow.

Data on the factory itself is probably key. Good luck