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

Shares of EV and charging stocks are trading lower following worse-than-expected Q3 financial results from Tesla.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 7:35 pm

The week ending October 13 saw a lackluster performance from electric vehicle (EV) stocks, with Tesla's Q3 margins causing concern among analysts. Rivian's stock is now seen as undervalued by some analysts, while Fisker is planning to expand into China. Lucid's delay in delivery has unnerved investors, and Ford is offering a $7,500 discount on its F-150 Lightning. The KraneShares Electric Vehicles and Future Mobility Index ETF ended the week up 0.92%.

Portfolio Pulse from Shanthi Rexaline

October 14, 2023 | 1:18 pm

The week ending Oct. 6 saw a downturn in electric vehicle (EV) stocks, with Tesla reporting lower than expected Q3 deliveries but affirming its full-year goal. Tesla also announced price cuts for its Model Y and Model 3 EVs. Rivian's stock fell by 23% following its announcement of a $1.5 billion green note offering. Lucid launched a cheaper version of its Air sedan. Ford reported higher Q3 EV sales than General Motors. Faraday Future announced plans to deliver another premium EV. The KraneShares Electric Vehicles and Future Mobility Index ETF ended the week up 0.92%.

Portfolio Pulse from Shanthi Rexaline

October 07, 2023 | 2:56 pm

Canoo has entered into a $45M convertible preferred stock purchase agreement with a foreign strategic institutional investor. The agreement could potentially be upsized to $150M. The investor has the right to convert its preferred stock into common stock at a conversion price of 120% of the average closing prices per share of the common stock over the preceding ten trading days. The company also issued warrants to the investor to purchase 22.96 million shares of common stock.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 12:39 pm

The week ending on Sept. 29 saw mostly positive performance for electric vehicle (EV) stocks, despite a muted broader market. Tesla is preparing for its Q3 deliveries, with estimates adjusted due to production suspensions at its Giga Shanghai and Giga Texas plants. Rivian's CEO dismissed concerns over competition with Tesla's Cybertruck. Lucid Group opened its first international manufacturing plant in Saudi Arabia. Faraday Future's stock plummeted following its proposed stock sale. Nio is rumored to be exploring a partnership with Mercedes-Benz. The KraneShares Electric Vehicles and Future Mobility Index ETF ended the week up 0.73%.

Portfolio Pulse from Shanthi Rexaline

September 30, 2023 | 2:53 pm

The article reports on the options activity of 10 consumer discretionary stocks. The stocks mentioned are Tesla (TSLA), Carvana (CVNA), Canoo (GOEV), Trip.com (TCOM), Lucid Group (LCID), DraftKings (DKNG), Darden Restaurants (DRI), Lennar Corporation (LEN), The Cheesecake Factory (CAKE), and Nike (NKE). The article provides details on the type of options activity (call or put), the sentiment (bullish or bearish), the expiration date, the strike price, the total trade price, the open interest, and the volume for each stock.

Portfolio Pulse from Benzinga Insights

September 28, 2023 | 5:35 pm

Electric vehicle (EV) stocks fell this week due to the Federal Reserve's hint at continuing its rate-tightening cycle. Tesla (TSLA) is rumored to pause Model Y production at its Giga Texas plant, causing concerns about Q3 deliveries. Lucid Group (LCID) received an operating license to begin production in Saudi Arabia. Nikola Corp. (NKLA) appointed Mary Chan as its new COO, causing the stock to spike by 38%. Toyota (TM) plans to triple EV production by 2025. VinFast Auto (VFS) plans to expand into Europe and India.

Portfolio Pulse from Shanthi Rexaline

September 23, 2023 | 4:53 pm

Electric vehicle (EV) stocks saw gains this week, with Tesla (TSLA) benefiting from an upgrade by Morgan Stanley and the potential of its Dojo supercomputer. Tesla's Giga Mexico construction could start soon, and the company is planning to raise $1.8 billion through securitization of its electric car leases. Nikola (NKLA) CEO Steve Girsky addressed concerns over a recall of its battery-electric trucks, stating it does not affect production or deliveries of the fuel-cell electric vehicle. Rivian (RIVN) held its own in the EV market, with registrations for its vehicles increasing in July. Faraday Future (FFIE) saw a jump in shares after a video of a reality TV personality taking delivery of his FF 91 2.0 Futurist Alliance. Volkswagen (VWAGY) plans to cut staff due to low demand for electric cars.

Portfolio Pulse from Shanthi Rexaline

September 16, 2023 | 1:05 pm

The week ending on Sept. 8 saw a general downtrend in electric vehicle (EV) stocks, with some exceptions like Tesla. Key events included Tesla's Giga Shanghai plant producing its 2 millionth vehicle, and the company's focus on robotaxis. Deutsche Bank flagged risks to Tesla's Q3 production and deliveries. Lucid Group's CEO was reported as the highest paid automotive CEO in 2022, while the company struggles with production and deliveries. Fisker plans to increase production of its Ocean electric SUV. Nikola faced more fire incidents with its Trey electric semi-trucks. Honda adopted Tesla's North American Charging Standard for its future EV models.

Portfolio Pulse from Shanthi Rexaline

September 09, 2023 | 2:40 pm

Tesla has cut prices of its Model 3, Model S, and Model X vehicles in the U.S. and Canada, triggering negative reactions from investors and analysts. The company also launched the Model 3 refresh in Asia and Europe. Fisker announced additional details of its affordable PEAR EV and expansion into three more European markets. Chinese EV companies Nio, XPeng, and Li Auto reported strong August sales. VinFast's shares plunged after a strong start. Canoo named a new CFO.

Portfolio Pulse from Shanthi Rexaline

September 02, 2023 | 2:02 pm

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