Having just reviewed their topline performance over the last 4 years, I don’t think it’s very encouraging. Gogoro Second Quarter 2024 Earnings: US$0.08 loss per share (vs US$0.024 loss in 2Q 2023) (yahoo.com)
Revenue has gone nowhere in 4 years. Profits are non-existent, losses are slowly widening. I think with its stock price as low as it is, you could see a reverse share split (even 20:1 reverse only puts them at about $12), a delisting or a takeover. I think it makes an attractive takeover: proven technology, established product, ongoing customer base.
The factors that made two-wheel powered transportation here attractive don’t apply to much of the developed world… so what are its potential markets? Indonesia? Thailand? Vietnam? I’m pretty sure they all have domestic production as well.
So the potential suitors are probably going to be domestic with overseas connections in the business at some point in the process. I think maybe a parts manufacturer with bigger ambitions is a likely candidate.
Gogoro’s backers include Singapore state-investment firm Temasek, former U.S. Vice President Al Gore’s Generation Investment Management and Yin Chung-yao, son of Samuel Yin, the billionaire chairman of Taiwan conglomerate Ruentex Group. (*forbes magazine article Taiwan’s Gogoro Revs Up Overseas Expansion Plans For Its Battery Swapping Electric Two-Wheelers (forbes.com))
So their pockets are big enough to fund for quite a while. But ten years of losses suggest that they might be looking to change direction. Only 11.7% institutional ownership, and 39.7% insiders (?). Short shares are low enough, too, to not provide a GME share surge. Is there a bottom to the stock price? Well…
Any takeover is going to need the support of the insiders and institutions to fly. But suitors include Foxconn, which has big pockets, lots of connections across Asia, already established deals with the company. Perhaps they’re waiting to swoop in with a good offer, if the share price is still low. But that’s my own personal speculation.
IANAFA. Do your own research! LOL!