If the early bird gets the worm, then perhaps early-bird investors will end up gorging on massive gains from REE Automotive Ltd (NASDAQ:REE).
Most investors haven’t heard of REE stock because it only went public in July 2021 through a merger with 10X Capital Venture Acquisition Corp, a special purpose acquisition company. The move brought REE Automotive Ltd roughly $288.0 million in new capital and truckloads of optimism, but REE Automotive stock hasn’t lived up to the hype (yet.)
To be fair, 2021 wasn’t the best time for growth stocks to wow investors. Value stocks were doing great, but growth stocks faced headwinds from pending interest rate hikes, inflation, the supply chain crunch, and labor shortages.
Furthermore, impatient growth investors probably weren’t willing to invest in a company that isn’t expected to start generating revenue until 2023 (although that isn’t far away).
That sounds bad, and on the surface it is, but the outlook for REE Automotive stock is exceptionally bullish.
Read more about REE Automotive Stock here.
The post REE Automotive Stock: Wall Street Sees 500% Upside for This EV Stock originally appeared at Profit Confidential.