Beyond Canoo: A Pick-and-Shovel Play on the Growth of EVs and Mexico

By Jason Hall and Tyler Crowe – Dec 12, 2023 at 9:53AM

NASDAQ: GOEV

Canoo

Market Cap

$179M

Today's Change

(-3.25%) -$0.09

Current Price

$2.68

Price as of May 6, 2024, 2:11 p.m. ET

The much-hyped EV start-up is on the cusp of financial failure. You really can build wealth investing in far less risky businesses.

Investor interest in Canoo (GOEV -3.25%) continues to remain high, despite serious financial troubles that have it on the cusp of bankruptcy. In this video, Motley Fool contributors Jason Hall and Tyler Crowe discuss Ternium (TX -0.72%), a "pick-and-shovel" way to invest in the future of EVs, supply chain expansion, industrial demand, and construction in North America. Canoo and other start-ups might seem like a fun way to invest, but if you're looking to build wealth, you'll want to give this video a watch.

*Stock prices used were from the afternoon of Dec. 5, 2023. The video was published on Dec 12, 2023.

Jason Hall has no position in any of the stocks mentioned. Tyler Crowe has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Jason Hall is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.