Do you believe GP will go higher soon

**GreenPower Motor (GP) is unlikely to increase in the near future.** Here's why: 1. **Current Financial Performance**: GP's recent financials show a bearish trend with a 54-day duration. This indicates a potential downward trend that could persist in the short term. |Ticker|Name|Date|Closing Price|code|market_code| |---|---|---|---|---|---| |GP.O|Greenpower Motor|20240102|3.13|GP|186| |GP.O|Greenpower Motor|20240103|3.07|GP|186| |GP.O|Greenpower Motor|20240104|3.07|GP|186| |GP.O|Greenpower Motor|20240105|3.16|GP|186| |GP.O|Greenpower Motor|20240108|3.18|GP|186| |GP.O|Greenpower Motor|20240109|3.08|GP|186| |GP.O|Greenpower Motor|20240110|3|GP|186| |GP.O|Greenpower Motor|20240111|2.95|GP|186| |GP.O|Greenpower Motor|20240112|2.86|GP|186| |GP.O|Greenpower Motor|20240116|2.8148|GP|186| 2. **Underwritten Offering and Financial Reliance**: GP has recently announced a proposed public offering to sell its common shares. This suggests a reliance on external funding, which could lead to dilution of existing shares and may not be well-received by the market, potentially putting downward pressure on the stock price. 3. **Market Sentiment and Competition**: The EV sector is highly competitive, and GP faces uncertainties due to changes in federal programs. Additionally, the market sentiment towards GP's stock has been lackluster, as evidenced by a significant drop in price and trading volume. 4. **Revenue and Profit Margins**: While GP has reported a 78% increase in revenue for the quarter, the gross profit margin was lower than anticipated. This could indicate inefficiencies or cost management issues that may impact profitability and investor confidence. 5. **Working Capital and Inventory**: GP's working capital stands at $10.1 million, with a significant portion in inventory. If the company is unable to efficiently manage inventory or meet demand, it could lead to further financial strain and negatively affect the stock price. In conclusion, given the current bearish trend, financial reliance on external funding, competitive uncertainties, and operational challenges, it is prudent to expect that GP's stock price may not increase in the near future.