In the last few days one could experience how quickly billions in value are created and destroyed again on the stock exchange. Of the Start The Sono Group NV (Sono Motors) share in mid-November was brilliant. But the spectacular start was followed by a rapid crash. The share was quoted below the issue price for the first time yesterday. Is that just a small damper for the lofty dreams? And what about Sono Motors and the Trollhättan production site?
The Nasdaq likes Rivian
Stock exchanges generally like electric cars. They sometimes react hysterically, buy well above their value and thus evaluate the future of a company. at Rivian (RIVN) is it like that. The company made its spectacular debut a few days before Sono Group and was highly rated. The stock started at US $ 78, has since traded at over US $ 179 and leveled off at US $ 120.
Rivian makes sensational all-electric trucks. The products are big and heavy. A profitable segment that Americans love. The story the company tells sounds like freedom and adventure. The American dream. Just in an electric way. You can like that.
So far it has been different at the Sono Group. After the start, it only went south, the share (SEV) lost value every day. There was no countermovement. It seems to be the story that got the Nasdaq investors in mind do not like. The founders are young and have never graduated. The product has an unspectacular design and is in the budget segment. The prospects for profits are to be assessed as low. Very few observers see the answer to the range problem of electric cars with the solar-electric solution.
But does the Nasdaq like Sono Motors?
Why install large-scale solar cells on a car when the first electric vehicles with a range of 1.000 kilometers are about to be launched in China? Refueling them with solar power is easier than the complex concept of the Sion. The doubts about the product and its marketability predominate.
Maybe Sono Motors and the community concept is too exotic for the Nasdaq? Is the sharing concept too ideological and moral, too European to put the stock market in a good mood? The ongoing delays may have squandered the opportunities that SEV 2019 would have had.
This is bad news for the Munich company. A permanently low valued share would make it difficult to get additional liquidity on the stock exchange. The time of the big expenditures only begins now, when the final spurt towards production begins.
Yesterday the Sono Group NV share (IF V) at US $ 12,63 from the trade. It lost over 16% of its value compared to the previous day.
In addition to concerns about the share, there is also uncertainty about the production location. Trollhättan is still number 1, even if the local uncertainties persist. But from Sono Motors circles you hear more and more people thinking about a plan B.