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REE Automotive Non-GAAP EPS of -$0.09 beats by $0.06

Mar. 03, 2022 6:39 AM ETREE Automotive Ltd. (REE)By: Deepa Sarvaiya, SA News Editor3 Comments
  • REE Automotive press release (NASDAQ:REE): Q4 Non-GAAP EPS of -$0.09 beats by $0.06.
  • Shares +6.43% PM.

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Comments (3)

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Frank Thomas in Florida profile picture
I can just envision an autonomous pizza delivery vehicle for Dominos and box truck for FedEx. Ree seems to have all the components to buid some great vehicles.
Rondayvous profile picture
@Frank Thomas in Florida I don’t get it. They are ahead of schedule, better than expected results. Acceptable cash burn, projections of income this year and in a pro electric environment and the stock drops 6% as of the writing. The market does not seem rational here.
Rondayvous profile picture
Last I looked REE was heavily shorted. I thought this was a key takeaway from their recent report. “After validating our REEcorner™ technology and building our supply chain in 2019 and 2020, REE focused on expanding its market footprint and building a partner ecosystem in 2021 to enable and accelerate adoption of the Company’s products. This includes collaborations with partners not only to develop full vehicle offerings, but also provide a comprehensive ecosystem of enabling capabilities and services, such as vehicle financing, charging infrastructure, aftersales & service as well as Data-as-a-Service (“DaaS”), for a full turn-key solution intended to enable and expedite a smooth transition for our customers from ICE to EV fleets.

The Company expects to continue executing on its commercial programs, including the delivery of full vehicle prototypes for non-public road tests, which REE expects to be followed by initial firm orders, and public road testing.”

They have laid the groundwork for rapid expansion and are months away from delivery of components based on successful trials last quarter. Once we get near delivery and the shorts run to cover I expect this stock to hit $20 as a starting point for future gains.
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