GreenPower Motor drops after Mariner Research warns on significant downside?
Clark Schultz, 23 September 2020
GreenPower Motor (GP -8.8%) is sharply lower with a negative report out from Marine Research Group for investors to consider. Some of the firm’s key points are highlighted below. “We estimate that ~74% of revenues are the result of a California subsidy program for which funding dried up in November 2019 – we believe that the next potential round of funding will be smaller than prior rounds.” “We believe that GP has underspent on R&D, calling into question is competitiveness.”
