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GIK to ZEV symbol change and short and mid term analysis

Long
NYSE:ZEV   Lightning eMotors, Inc
Lightning eMotors (ZEV), a leading provider of commercial electric vehicles for fleets, and GigCapital3 , Inc. ("GigCapital3"), announced that they are completing their previously announced business combination. The combined company has changed its name to Lightning eMotors, Inc. and its common stock and warrants began trading on the New York Stock Exchange under the new symbols "ZEV" and "ZEV.WS", respectively, since May 7, 2021.

Previously I've written about SPAC instruments (related idea post is attached below), and still looking at this shares as long/

My update on current post is related to Symbol change, some technical and fundamental analysis . So, technically, I think there is a probably double bottom formation on the price at $ 7,55 which also may coincide with the final moves down.
I drew the 5th wave formation, however, I do not exclude that the movement from the beginning of this spring may well keep within the correction. In any case, I expect a move up to $ 11-13-14 per share in the short and mid term.

Fundamentally - the company's shares are clearly undervalued compared to competitors in the market, the company has positive cash flows, customers, and is likely to start showing profit soon. Lightning eMotors has been providing specialized and sustainable fleet solutions since 2009, deploying complete zero-emission-vehicle (ZEV) solutions for commercial fleets since 2018 – including Class 3 cargo and passenger vans, Class 4 and 5 cargo vans and shuttle buses, Class 6 work trucks, school buses, Class 7 city buses, and Class A motor coaches. The Lightning eMotors team designs, engineers, customizes and manufactures zero-emission vehicles to support the wide array of fleet customer needs including school buses and ambulances, with a full suite of telematics, analytics and charging solutions to simplify the buying and ownership experience and maximize uptime and energy efficiency.

For me, the current price for this company is quite acceptable, a good alternative to Tesla or Nio shares in my portfolio.

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