Opinions
Jim Cramer - Mad Money
The Lion Electric Co
LEV-N
BUY
Jan 04, 2021
$21.180
Stock price when the opinion was issued
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Based in Quebec, this maker of electric school buses and heavy trucks trades both on the TSX and Nasdaq and is a favourite of Mad Money's Jim Cramer. Lion has been on a roll so far this year. In January, Amazon ordered 2,500 trucks from them to be delivered over the next four years. Last month, Lion entered a credit deal worth US$100,000,000 involving National Bank among others, that will enhance the company's liquidity. At the same time, PEI ordered school buses from them.
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WEAK BUY
Leaders in their field and have a huge backlog, but they're losing a lot of money, since it's a capital-intensive business. They recently raised some money, with Power Corp investing half that. If they keep growing at this rate, they will continue to need capital. If you believe in EV's, you have to be in for the long term. Not a bad time to buy it now, but risky.
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https://finance.yahoo.com/news/northern-genesis-spac-rallies-lion-162015419.html Spiked 19% today after news of a deal to supply Amazon. He likes it.