Volta: Struggles Persist

 

  • Volta recently reported another quarter with large losses.
  • The EV charging station company has an intriguing business concept, but the digital ad market isn't delivering the necessary revenues.
  • The company faces a cash crunch while having an interim CEO and needing to hire a CFO.
  • This idea was discussed in more depth with members of my private investing community, Out Fox The Street. Learn More » 
While EV charging continues to garner more interest and government funding, Volta (NYSE:VLTA) still doesn't have a workable business plan for the short term. The company has lost most key executives despite what previously amounted to a promising business model in EV charging stations. My investment thesis remains Neutral with the stock trading at $2 now, but Volta could keep falling.

Read the full article on Seeking Alpha. 

Disclosure: No positioned mentioned. Please review the disclaimer page for more details. 

Update - Sept. 28
Always crazy how fuels of the future never work for investors. One should watch whether this sets a double bottom tomorrow.

-EV charging company Volta (NYSE:VLTA) on Wednesday said it had implemented a 10% reduction in its workforce, withdrawn its full year revenue guidance and revised its Q3 revenue forecast amidst challenging market conditions.
-The company said it would implement additional actions such as limit the use of outside consultants and consolidate its teams and three offices in San Francisco into one.
-Volta (VLTA) also revised its Q3 revenue guidance to $13.5M to $14.5M from a prior outlook of $17M to $18M, citing market conditions and an uncertain macroeconomic environment. The consensus revenue estimate is $17.56M.

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