Should you buy EVgo stock? (October 2023)

EVgo stock analysis. Ticker: EVGO Join 10,000 investors: https://www.overlookedalpha.com Evgo is also well positioned for ESG investors because it’s charging network is 100% powered by renewable energy, thanks to its purchase of renewable energy certificates. But, EVGo’s balance sheet isn’t as healthy as it looks. The company is burning roughly $60 million of cash a quarter which means it’s got less than two years before it runs out. It’s going to have to raise more capital by selling shares and that’s going to dilute shareholders. Meanwhile, the company is facing huge competition from Tesla and Volkswagen-backed Electrify America. Both companies are rolling out charging networks and have huge resources at their disposal. That puts EVGo in a difficult position. To be fair, other charging stocks like Blink Charging and ChargePoint face exactly the same problem. It’s not clear how profitable these businesses can be. Gas stations, after all, make hardly any money on fuel, the majority comes from conveniences #evgo #stocks #investing #stockstowatch #overlookedalpha