Is Golden Arrow Merger Corp. overvalued or undervalued?

As of 16 February 2024, the valuation grade for Golden Arrow Merger Corp. has moved from does not qualify to risky, indicating a significant deterioration in its financial standing. The company appears to be overvalued, given its negative valuation ratios, including a Price to Book Value of -0.38 and an EV to EBITDA of -0.52. Comparatively, peers like Distoken Acquisition Corp. and Monterey Capital Acquisition Corp. also show negative valuations, with P/E ratios of -89.60 and -0.02, respectively, highlighting the challenging environment in which Golden Arrow operates.
The stock has underperformed significantly against the S&P 500, with a year-to-date return of -62.97% compared to the index's 12.22%. This stark contrast reinforces the notion that Golden Arrow Merger Corp. is not only struggling in terms of valuation but also in market performance.