EV startup Canoo files for bankruptcy, to cease operations
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EV startup Canoo has filed for Chapter 7 bankruptcy and will cease operations immediately.
January 18, 2025 | 2:15 am
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Canoo, trading under the symbol GOEV, has filed for Chapter 7 bankruptcy and will cease operations immediately.
The filing for Chapter 7 bankruptcy indicates that Canoo will liquidate its assets and cease operations, which is a critical and negative development for the company. This will likely lead to a significant drop in the stock price as the company is no longer a going concern.
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