Published on 24 Aug 2023 on GuruFocus.com via Yahoo Finance
What's Driving Vicinity Motor Corp's Surprising 30% Stock Rally?
Vicinity Motor Corp (NASDAQ:VEV), a Canadian bus manufacturer, has seen a significant surge in its stock price over the past three months. The company's stock price has risen by 29.98%, from $0.76 to $1.07, marking a notable gain for investors. Over the past week, the stock has also seen a 1.24% increase. The company's market cap currently stands at $47.955 million.
According to the GF Value, defined by GuruFocus.com, which calculates a stock's intrinsic value using historical multiples, past performance adjustments, and future business estimates, Vicinity Motor Corp is currently fairly valued. The GF Value stands at $1.17, a significant drop from the $2.47 recorded three months ago. This suggests that the stock was previously a possible value trap, and investors needed to think twice before investing.
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