Canoo: Revenue Struggles Continue

Summary:

  • Canoo has seen a significant drop in share price from over $572 to just $1.50, with minimal revenues and significant losses.
  • The company is working on pilot testing its vehicles with hopes of generating meaningful sales in 2024, but revenue estimates have been continually dropping.
  • Canoo’s negative working capital balance, high cash burn rate, and reliance on financing from Yorkville raise concerns about continuous dilution and future prospects.

Surprised young man with mouth open watching horror movie in cinema hall at theater

Klaus Vedfelt

One of the worst performing names in the markets in recent years has been Canoo (NASDAQ:GOEV). The electric vehicle manufacturer saw its shares peak at a split-adjusted price of over $572 in late 2020, only to fall back


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