Streetbeat News

GOEV

Canoo Inc.

https://www.canoo.com

Industry

Auto - Manufacturers

Canoo Inc., a mobility technology company, designs, engineers, develops, and manufactures electric vehicles for commercial and consumer markets in the United States. The company offers lifestyle delivery vehicles, lifestyle vehicles, multi-purpose delivery vehicles, and pickups. It also provides multi-purpose platform architecture is a self-contained, fully functional rolling chassis design to support various range of vehicle weight and ride profiles. The company serves to small businesses, independent contractors, tradespeople, utilities, and service technicians. Canoo Inc. was founded in 2017 and is headquartered in Torrance, California.

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JetBlue Airways Corporation (NASDAQ:JBLU) shares fell by over 10% after B of A Securities analyst Andrew Didora downgraded the stock from Neutral to Underperform and lowered the price target from $6 to $3. The company also announced that Joanna Geraghty will succeed Robin Hayes as CEO in February 2024. Other stocks moved significantly in Tuesday's mid-day session, with various gainers and losers across different sectors.

Portfolio Pulse from Avi Kapoor

January 09, 2024 | 6:01 pm

During Tuesday's intraday session, several consumer discretionary stocks experienced significant movements. BT Brands, Rent the Runway, Jowell Global, BARK, Polished.com, and Beachbody Co were among the gainers, with stock increases ranging from 9.78% to 29.7%. Conversely, E-Home Household Service, Canoo, Container Store Group, Volcon, Kaixin Auto Holdings, and Lottery.com were among the losers, with stock decreases ranging from 10.25% to 18.5%. Market capitalizations for these companies vary, with the smallest at $1.1 million for Volcon and the largest at $167.7 million for Canoo.

Portfolio Pulse from Benzinga Insights

January 09, 2024 | 5:31 pm

Juniper Networks, Inc. (JNPR) shares surged over 23% in pre-market trading due to reports of advanced acquisition discussions with Hewlett Packard Enterprise Co (HPE). HPE's stock fell 8.5% in pre-market trading as the potential deal, which could be worth around $13 billion, may be announced soon. Other stocks experienced significant movements in pre-market trading, with various gainers and losers listed.

Portfolio Pulse from Avi Kapoor

January 09, 2024 | 1:23 pm

In Tuesday's pre-market session, BT Brands (BTBD) saw a significant increase of 139.3%, while VOXX International (VOXX) rose by 7.06% following their Q3 earnings report. Conversely, Lixiang Education Hldg (LXEH) and Canoo (GOEV) experienced notable declines of 17.2% and 9.81%, respectively. Other consumer discretionary stocks like MGO Global (MGOL), Tuniu (TOUR), and JOANN (JOAN) also saw gains, whereas China Liberal Education (CLEU), Vision Marine (VMAR), Rent the Runway (RENT), and Solid Power (SLDP) recorded losses.

Portfolio Pulse from Benzinga Insights

January 09, 2024 | 1:06 pm

The article highlights three consumer discretionary stocks considered oversold based on their Relative Strength Index (RSI) values, suggesting a potential buying opportunity. Canoo Inc. (GOEV) recently purchased manufacturing assets and saw a slight stock decline, with an RSI of 29.65. Rent the Runway, Inc. (RENT) reported disappointing revenue results, leading to a 30% stock drop over the past month and an RSI of 26.16. Mobileye Global Inc. (MBLY) announced significant production design wins, yet its stock fell 26% in the past five days, with an RSI of 19.38.

Portfolio Pulse from Avi Kapoor

January 09, 2024 | 12:22 pm

Canoo Inc (NASDAQ:GOEV) shares rose after the company announced the purchase of new manufacturing assets at significantly reduced prices for its Oklahoma City facility. The assets, including robotics and controls processing equipment, were acquired at over 80% off estimated value, allowing Canoo to reduce 2023 capital expenditures and improve financial guidance. The assets will support Canoo's manufacturing strategy and help scale production for increased customer deliveries in 2024.

Portfolio Pulse from Adam Eckert

January 08, 2024 | 4:08 pm

Canoo's stock price has increased following the announcement of the company acquiring manufacturing assets at reduced prices to expand production at its Oklahoma City facility.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 4:06 pm

Canoo has acquired manufacturing assets at significantly reduced prices to expand production at its Oklahoma City facility. This strategic move is aimed at scaling up their manufacturing capabilities in a cost-effective manner.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 12:01 pm

Electric vehicle stocks fell in the week ending Jan. 5, with Tesla's Q4 deliveries exceeding expectations but not enough to lift the sector. Tesla lost its global EV leader status to BYD, faced a recall in China, and will provide 2024 guidance on Jan. 24. Rivian's Q4 deliveries slightly missed estimates, while Fisker adopted a dealer distribution model. Ford adjusted F-150 Lightning prices, and GM plans to compensate buyers for lost EV tax credits. The KraneShares Electric Vehicles ETF fell by 5.53% for the week.

Portfolio Pulse from Shanthi Rexaline

January 06, 2024 | 2:59 pm

Wedbush analyst Daniel Ives has initiated coverage on Canoo (NASDAQ:GOEV) with an Outperform rating and set a price target of $4 for the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 3:26 pm

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