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 Partners with Northside Truck & Van to Deliver its Initial Parts Network and Reliable Service, Maintenance, and Repair Services to Customers in the United Kingdom [Yahoo! Finance]Yahoo! Finance
- Canoo Partners with Northside Truck & Van to Deliver its Initial Parts Network and Reliable Service, Maintenance, and Repair Services to Customers in the United KingdomGlobeNewswire
- Canoo Inc. (NASDAQ: GOEV) had its price target lowered by analysts at HC Wainwright from $4.00 to $2.00. They now have a "buy" rating on the stock.MarketBeat
- Canoo Inc (GOEV) Q3 2024 Earnings Call Highlights: Navigating Growth and Challenges Amidst ... [Yahoo! Finance]Yahoo! Finance
- Canoo Inc. Announces Third Quarter 2024 ResultsGlobeNewswire
GOEV
Earnings
- 11/13/24 - Beat
GOEV
Sec Filings
- 11/21/24 - Form 3
- 11/21/24 - Form 3
- 11/14/24 - Form 10-Q
- GOEV's page on the SEC website