It is easy to see that this board is 100% negative on Exro and its execution. Many post daily how management have over promissed and under delivered, frustrated and dissappointed with missing deadlines and having to push dates out. The overall tone is extremely negative and many feel changes are required to management.
The big question is: Has Exro under performed the past 2 years and 5 years in the Electrification space of Battery Storage and EV?
Lets take a look at severeal companies in these two sectors to compare to Exro.
Plug - 2 yr is -85% 5yr +155%
FCEL - 2yr is -75% 5yr -81%
BLDP - 2y is -70% 5yr +6%
GM - 2yr is -42% 5 yr -8%
F - 2yr is -53% 5 yr + 30%
QS - 2yr is -64% 5yr -23%
LNR -2yr -18% 5yr + 30%
MG - 2yr -31% 5 yr +11%
These are all multi billion dollar companies and everyone of them have negative returns these padt 2 years and a majority are negative over the past 5 years.
Some of these companies are confirmed partners with Exro such as Linamar (LNR) and dome may be indrr NDA
Now how has Exro performed during tge same time frame.
EXRO - 2yr -60% and 5yr is -19%
So I ask you, is EXRO under performing, is management dropping the ball or is our performance more inline with the sectors we operate in?
Interest rates have soared and these sectors are interest rate sensitive.