A $1.46 billion firm from Richmond Hill, Canada, that operates as a ride-sharing company is the hottest stock on the TSX Venture Exchange (TSXV). The year-to-date return of Facedrive (TSXV:FD) is an insane 571.3%. From $2.30 on December 31, 2019, the stock is trading at $15.44 per share as of September 4, 2020.
A new force for change
Facedrive owns and manages an application-based transportation platform that serves customers in Canada. The solutions it offers are ride sharing, payment processing, insurance support, and rewards. Management believes the company is changing the ride-sharing business model and introducing a new force for change.
Thus far, the reception on the TSXV is incredible. Facedrive presents itself as a “people-and-planet-first” ride-sharing platform. Likewise, it’s the pioneer in offering green transportation solutions. The most appealing feature to investors is that Facedrive is working to help the environment, which is a novelty in this space.
Environment-friendly approach
Ride sharing is now a mainstream offering and perhaps one of the biggest trends in the digital era. Consumers participate in a software application or app and share rides. Facedrive should see explosive growth, as it aims to make your ride-sharing experience less polluting.
Facedrive’s ride-sharing service is the next-generation model. The approach is innovative, because customers can choose between electric vehicles (EVs), hybrids, and conventional cars. The various options are pleasing to ride hailers, since no company has offered such before. Customers can help reduce emissions.
It’s a win-win situation for riders and drivers. As a customer, you won’t pay a premium for taking an eco-friendly ride. There’s no short-changing of fares to drivers joining the green initiative. The service is a hit with younger generations, including celebrities. Facedrive’s app allows riders to see a reduction in carbon footprint in real time.
One of a kind
Aside from its central principle of offsetting carbon emissions, Facedrive is monetizing every high-tech sharing experience angle. The company has Facedrive Foods, exclusive merchandise, pharmaceutical deliveries, and long-distance car-pooling.
The company has no issues with local officials, considering that every program on the platform benefits the community at large. In the COVID-19 pandemic, Facedrive Healthcare offers discounted rides for healthcare workers. Specialized vehicles are available for contactless delivery of essential over-the-counter medicines and medical supplies.
Explosive growth is for real
Had you invested $10,000 in Facedrive year-end 2019, your money would be worth $67,130.43 today. Expect further growth, as the company ushers in ride share 2.0. It’s a Canadian tech firm building a reputation as an ethical, principle-driven company operating in a high-growth space.
Facedrive sees a long runway for growth. The company will pursue expansion plans in the U.S. and European markets. Furthermore, hedge funds and institutional investors should be leaning towards and investing in environmentally and socially responsible companies. The profit potentials from green stocks are enormous.
Investors should include Facedrive in their buy list. The company is on track in achieving’s goal to build a sustainable multi-billion-dollar global organization in Transportation-as-a-Service industry. It’s an emerging industry that promises massive rewards in the near term.
