Hyliion Stock Isn’t Worth Your Money At This Point
Alex Sirois, 29 October 2020
Investors looking for further alternative fuel vehicle plays might consider Hyliion (NYSE:HYLN) and Hyliion stock. Hyliion has already gone public through a special purpose acquisition company (SPAC). Now it is working towards production. The company is quite different from industry peers Tesla (NASDAQ:TSLA) and Nikola (NASDAQ:NKLA) in its approach and offerings. Yet, it does bear some similarities to Nikola, specifically the manner in which it has come to market.
Where Tesla and Nikola will produce class 8 trucks, Hyliion is producing drive train solutions. Like Nikola, Hyliion has come to market via the SPAC route. And like Nikola, its stock has fallen post-merger. Furthermore, the company may also soon be embroiled in controversy. First, the good.
