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.

Open

0.41

Mkt cap

36M

Volume

5.3M

High

0.43

P/E Ratio

-0.07

52-wk high

8.81

Low

0.40

Div yield

N/A

52-wk low

0.37

Canoo (NYSE:GOEV) has seen a rise in short interest, now at 17.46% of float with 121.55 million shares shorted. It would take about 4.16 days to cover all short positions. While high short interest can indicate bearish sentiment, it doesn't necessarily predict a price drop. Canoo's short interest is higher than its peer group average of 12.01%.

Portfolio Pulse from Benzinga Insights

January 01, 2024 | 8:00 pm

In 2023, the EV industry faced production and demand challenges, with Tesla, Inc. (TSLA) doubling its stock value after aggressive price cuts. Rivian Automotive, Inc. (RIVN) also ended the year positively, maintaining production forecasts and managing costs. Global EV adoption slowed due to affordability and infrastructure issues. Tesla's North American Charging Standard gained significant adoption from other automakers. Legacy automakers scaled back EV plans due to strikes and demand slowdown. Analyst Gary Black views Tesla as the only investable EV company, with BYD and Rivian as potential winners. The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) fell 7.85% for the year.

Portfolio Pulse from Shanthi Rexaline

December 30, 2023 | 3:28 pm

Canoo has postponed its Annual Shareholder Meeting to December 29, 2023, to allow more time to solicit votes necessary to reach a quorum and proceed with company business.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:19 pm

Tesla faced a labor union strike in Sweden, lost a court case against Sweden's postal service, and was excluded from PensionDanmark's investment list due to labor issues. Tesla's China sales dropped year-over-year but increased month-over-month. Lucid Group was removed from the Nasdaq 100 Index and announced changes to its Lucid Air lineup. Nio is considering spinning off its battery unit. Rivian laid off members of its battery-cell development team. Fisker's Ocean SUV was spotted in India, and the company addressed investor concerns over its stock price. The KraneShares Electric Vehicles and Future Mobility Index ETF saw a slight increase on Friday but an overall weekly decline.

Portfolio Pulse from Shanthi Rexaline

December 09, 2023 | 1:58 pm

In the past week, Tesla's Cybertruck launch was seen as a pricier 'side story' and Fisker scaled back production plans for the fourth time. Ford dealers are quitting the EV program due to stringent criteria, while Nio is offering incentives to boost sales. Rivian launched a leasing option for its R1T pickup truck. The KraneShares Electric Vehicles and Future Mobility Index ETF had a slight increase on Friday but an overall weekly loss.

Portfolio Pulse from Shanthi Rexaline

December 02, 2023 | 2:34 pm

Electric vehicle stocks had mixed results with Tesla and Chinese EV companies ending positively. Tesla faced a strike in Sweden and is preparing for the Cybertruck launch. Rivian's CEO RJ Scaringe is taking on more product development roles. Fisker's stock rallied despite a disappointing quarterly report. Nio's executive refuted rumors of the company's collapse. GM's Cruise is planning a cautious robotaxi relaunch. The KraneShares Electric Vehicles ETF saw a slight weekly decline.

Portfolio Pulse from Shanthi Rexaline

November 25, 2023 | 2:34 pm

In Monday's intraday session, several consumer discretionary stocks experienced significant movements. Yoshiharu Global (YOSH) saw a 22.9% increase, Canoo (GOEV) rose 21.12%, and Cazoo Gr (CZOO) went up by 19.92%, all following their Q3 earnings reports released 4 days ago. Purple Innovation (PRPL) increased by 16.27%, Cheetah Net Supply Chain (CTNT) by 14.53%, and Solo Brands (DTC) by 13.33%. On the downside, Zapp Electric Vehicles (ZAPP) dropped 31.7%, Allurion Technologies (ALUR) by 10.81%, Greenlane Hldgs (GNLN) by 10.5%, MGO Global (MGOL) by 10.01%, Newegg Commerce (NEGG) by 9.99%, and Jianzhi Education Tech (JZ) by 8.73%.

Portfolio Pulse from Benzinga Insights

November 20, 2023 | 5:31 pm

Electric vehicle stocks saw gains in the week ending Nov. 18, with Tesla (TSLA) up over 10% despite controversy over CEO Elon Musk's support for antisemitic content. Tesla faces union issues in Sweden and prepares for the Cybertruck launch. Nikola (NKLA) announced the resignation of CFO Anastasiya Pasterick. Fisker (FSR) reported disappointing Q3 results and internal control weaknesses. Rivian (RIVN) offers incentives for R1T purchases. Volkswagen (VWAGY) recalls ID.4s over flammability concerns. The KraneShares Electric Vehicles ETF (KARS) ended the week up 4.51% but down 0.88% on Friday.

Portfolio Pulse from Shanthi Rexaline

November 18, 2023 | 2:39 pm

Canoo Inc. (NASDAQ:GOEV) has landed a significant contract with Prime Time Shuttle for the delivery of up to 550 electric vehicles. The Lifestyle Vehicle (LV) Premium model will be incorporated into Prime Time Shuttle's luxury and airport transportation fleets in the Los Angeles area. Prime Time Shuttle, with operations in 34 states and over 50 million customers since 1984, plans to expand the use of electric vehicles beyond California. Canoo's leadership is optimistic about the deal and California's zero-emission goals.

Portfolio Pulse from Benzinga Neuro

November 17, 2023 | 9:14 am

Canoo has secured a contract with Prime Time Shuttle for the purchase of up to 550 electric vehicles. Prime Time Shuttle will acquire the Lifestyle Vehicle Premium Model over several years to enhance its sustainable fleet.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 5:34 pm

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