Canoo: Is There An Eleventh Hour EV Salvo?

Summary:

  • Canoo ended its fiscal 2023 second quarter with cash and equivalents of $5 million.
  • This was set against cash outflows from operations of $62.3 million and guidance for at least $70 million in capital expenditure through its third and fourth quarters.
  • The company has raised more funds but currently has a cash runway of around two quarters left.

Electric car charge stations

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What exactly is going on with Canoo (NASDAQ:GOEV)? The EV upstart has been rallying from recent 52-week lows on the back of its fiscal 2023 second-quarter earnings, which saw the announcement of a large customer agreement with a


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