Is Arrival a Good Electric Vehicle Stock to Own? -Breaking – Street Register

© Reuters. Are You a good electric vehicle stock to own?

The shares of Arrival, an electric vehicle company (ARVL), have fallen in the recent months. Is it wise to invest in the stock now, given its unique products and technologies? Let’s find out.London-based electric vehicles (EV) manufacturer Arrival (ARVL) recently announced a Service Network Program that will use its digital Service Platform to train and certify any technician to service its vehicles. ARVL shares fell 25% on the 9th of November 2021 after Arrival announced that it had a poor outlook for 2022. The company also stated that it should not be relied on its long-term projections from the merger. To raise money, it is selling debt and equity.

The stock has declined 39.1% in price over the past month to close yesterday’s trading session at $8.93. It is trading at 76% of its historic high price, $37.18, that it reached on December 7, 2020.

Moreover, the entire electric vehicle industry is facing severe semiconductor chip and labor shortages, which could hamper the company’s already delayed production plans. And rising competition in the EV space along with ARVL’s weak financials so far make its near-term prospects bleak.

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