NGA

Northern Genesis Acquisition Corp

Industrial/Transportation


Presented:12/04/2020
Price:$14.25
Cap:$0.57B
Current Price:$0.66
Cap:$0.15B

Presented

Date12/04/2020
Price$14.25
Market Cap$0.57B
Ent Value$0.06B
P/E RatioN/A
Book ValueN/A
Div Yield0%
Shares O/SN/A
Ave Daily Vol1,174,638
Short IntN/A

Current

Price$0.66
Market Cap$0.15B
Northern Genesis Acquisition Corp. intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination. The company was founded in 2020 and is based in Kansas City, Missouri.

Publicly traded companies mentioned herein: Amazon Inc (AMZN), Canadian National Railway Co (CNI), Intercontinental Exchange (ICE), Lordstown Motors Corp (RIDE), Northern Genesis Acquisition Corp (NGA), Tesla Inc (TSLA), Workhorse Group Incorporated (WKHS), 

Highlights

The presenter is long shares of Northern Genesis Acquisition Corp (NGA). On November 20, 2020, Lion Electric and Northern Genesis Acquisition Corp announced a merger and commitments for $200MM in a PIPE. The combined company is expected to be listed on the NYSE in Q1 2021 under the ticker LEV. The presenter believes that areas like last mile delivery, trash trucks, school buses, ambulances, and police cars, are interesting niches for electrification. Competing with TSLA is very difficult because they are so far ahead in product development. However, Classes 3 through 8 EV trucks is a market segment that doesn’t have a real dominant player. Lion’s truck, the Lion 6, and their alignment with customers like AMZN, CNI, electric companies in Canada, and the Quebec government should make NGA the real champion in electrification of the commercial and school bus suites. 

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Idea Discussion

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