Published on 26 Jul 2023 on Simply Wall St. via Yahoo Finance
Vicinity Motor Corp.'s (CVE:VMC) 30% Jump Shows Its Popularity With Investors
Vicinity Motor Corp. (CVE:VMC) shares have continued their recent momentum with a 30% gain in the last month alone. But the gains over the last month weren't enough to make shareholders whole, as the share price is still down 8.4% in the last twelve months.
After such a large jump in price, when almost half of the companies in Canada's Machinery industry have price-to-sales ratios (or "P/S") below 1.3x, you may consider Vicinity Motor as a stock probably not worth researching with its 2.9x P/S ratio. However, the P/S might be high for a reason and it requires further investigation to determine if it's justified.
View our latest analysis for Vicinity Motor