April 13, 2022, – St. Petersburg, FL – Water Tower Research (www.watertowerresearch.com) has published an Initiation of Coverage Report on EVmo, Inc. (OTC: YAYO), a leading provider of rental vehicles to the rapidly growing rideshare and gig-delivery economies. The report highlights the significant growth opportunities for the company as well as the experienced management team, growing insider ownership, and actions taken over the past 12 month to support growth.
“EVmo is at an inflection point in its growth” said Graham Mattison of Water Tower Research. “2021 and early 2022 was a transformational period that saw a new management team take several actions to stabilize the company and position it for the future. These include securing new debt facilities to acquire vehicles, an equity raise, and numerous hires and new processes implemented to improve vehicle utilization and maintenance efficiencies, as well as the overall user experience.
“Insiders have been buying in the open market (and now hold 17.7%), and the shares are trading at less than 1.5X this year’s sales, based on the low end of company guidance, and 0.4X our 2023 sales estimates.
We will be hosting EVmo VP of Sales & Marketing Greg Fischer for a fireside chat on April 19, 2022, at 1:00 pm ET. It is open to all investors. Click to register here.
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