Canoo Joins Watchlist Flashing Red [Seeking Alpha]
Canoo Inc. - Class A (GOEV)
Company Research
Source: Seeking Alpha
Summary Canoo's poor balance sheet, heavy losses, and unsustainable cash burn have materially clouded its future outlook. The company is heavily dependent on dilution to plug a liquidity gap that remains wide. Bears face some risk if consecutive rate cuts spark a revival of positive investor sentiment. Emanuel M Schwermer/DigitalVision via Getty Images Canoo Inc. ( NASDAQ: GOEV ) has staged a rally hot off the heels of its reverse stock split, which I flagged in my last article on the company as a reason to sell the EV upstart. The short case for GOEV has always coalesced around the company's poor balance sheet, heavy losses, and unsustainable cash burn. The figures from fiscal 2024 second quarter earnings are not great, with revenue of and an adjusted EBITDA loss of $38.6 million . This loss was a year-over-year improvement of 38%, with GOEV's comprehensive net loss during the second quarter at $6 million. The company expects its adjusted EBITDA loss for the second half of
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GOEV
News
- Canoo Inc. (GOEV) Advances While Market Declines: Some Information for Investors [Yahoo! Finance]Yahoo! Finance
- Canoo (GOEV) Is Considered a Good Investment by Brokers: Is That True? [Yahoo! Finance]Yahoo! Finance
- Canoo Expands Presence in Oklahoma and Texas with Engineering Talent and Headquarters RelocationGlobeNewswire
- Canoo to Participate in Upcoming Investor ConferencesGlobeNewswire
- Electric Vehicle Market worth $620.3 billion by 2030 | MarketsandMarkets™ [Yahoo! Finance]Yahoo! Finance
GOEV
Earnings
- 8/14/24 - Beat
GOEV
Sec Filings
- 9/16/24 - Form 424B5
- 9/13/24 - Form 8-K
- 9/9/24 - Form 8-K
- GOEV's page on the SEC website