What's Going On With Canoo (GOEV) Stock?
Portfolio Pulse from Adam Eckert
Canoo Inc's stock (GOEV) is trading lower after a rally following the appointment of a new CFO, Greg Ethridge. The company also announced Google Cloud as its primary cloud provider to deploy AI, data management, and security technologies. Canoo has also hired Onix to optimize its manufacturing processes.
August 29, 2023 | 12:46 pm
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NEUTRAL IMPACT
Canoo has chosen Google Cloud as its primary cloud provider.
Canoo's decision to use Google Cloud could be seen as a positive for Google, as it shows that their cloud services are being chosen by companies in the EV sector. However, the impact on Google's stock is likely to be minimal in the short term, as this is just one of many partnerships for Google Cloud.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Canoo's stock is trading lower after a rally due to the appointment of a new CFO and the announcement of Google Cloud as its primary cloud provider.
The stock rallied due to the appointment of a new CFO, which is usually seen as a positive sign. However, the stock is now trading lower, possibly due to investors taking profits after the rally. The partnership with Google Cloud could be seen as a positive in the long term, but it seems to have had a negative impact in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100