Lightning eMotors: Reasons For The Sharp Stock Price Drop And Why It Is An Opportunity [Seeking Alpha]
Lightning eMotors, Inc (ZEV)
Company Research
Source: Seeking Alpha
MikeDot/iStock Editorial via Getty ImagesLightning eMotors (NYSE:ZEVSeeking AlphaIn our previousarticle, we highlighted that ZEV was not yet a compelling buy due to underperforming gross margin, slow revenue conversion, and dilution risk from future capital raises. The dilution just happened.This article dives into the dilutive event (conversion of debt to equity) that caused a sharp decline in ZEV, as well as an update on the business operations. Additionally, the article provides an update on valuation pre and post dilution, as well as an view on whether the warrants offer a good opportunity.The conclusion is that ZEV is a compelling buy opportunity. As of this writing, one can justifiably say ZEV is a cheap stock as it is trading near its implied cash per share value.Let's dive in.Business updateLightning eMotors reported mixed Q3resultsRevenue growth was strong at 78% Y/Y, improving from a weak Q2 that showed revenue contraction. Showing strong growth in Q3 means that customers ar
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