Trade Canoo Inc. - GOEV CFD

Canoo Inc. Company profile

Canoo manufacturers electric vehicles. Founded in 2017 as Evelozcity, the US-based company’s lead primary investors were Chinese investor Li David Pak-Tam and German entrepreneur David Stern. Canoo manufactures a range of electric vehicles (EVs), from lifestyle to pickup trucks. The company boasts of an experienced pool of talent from leading technology and automotive companies.

Canoo merged with special purpose acquisition company (SPAC) Hennessy Capital Acquisition Corp IV in order to go public. At a valuation of $2.4bn, the initial public offering (IPO) was expected to raise $300m to fund Canoo’s manufacturing process for its minivan, set to launch in 2022. The merger was completed on 22 December 2020. Canoo started to trade on the Nasdaq under the ticker GOEV.  The stock opened at $22.75 and climbed nearly 10% reaching an intra-day high of $24.90. However, it closed the day 17% lower, at $18.89.

With its lifestyle vehicle set to launch in the last quarter of 2022, Canoo announced it was partnering with Panasonic in October 2021. Panasonic will supply batteries for Canoo’s electric vehicles.

On 22 March 2022, GOEV opened at $5.91. In intraday trading, it fluctuated to the high of $6.08 and low of $5.81. At a close price of $5.98 on 22 March 2022, compared to the close price of $5.87 on 21 March 2022, Canoo stock has increased by 1.87%.

Data from Capital.com showed 100% bullish and 0% bearish trader sentiment. The data was calculated automatically, based on open positions for Canoo Inc. on the platform and should not be considered as an incentive to trade the asset.