Canoo: Positive News Isn’t Enough

Summary:

  • Canoo Inc. has generated positive news flow with EV deals and asset acquisitions, but the company lacks the cash on hand to reward shareholders.
  • GOEV stock plunged following a reverse split, but snapped back after the U.S. Department of Transportation approved the Oklahoma City facility as a FTZ.
  • Canoo entered Q4’23 with an effective cash balance of only $53.3 million and will need to constantly dilute shareholders to fund ongoing operating losses in the EV manufacturing ramp phase.

EV charging stations or electric vehicle recharging stations with graphic display

PhonlamaiPhoto

The electric vehicle (“EV”) sector has gotten crushed in the last year, and Canoo Inc. (NASDAQ:GOEV) stock has been no exception. The company has generated a lot of positive news since reporting the Q3 ’23 earnings


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