Canoo (GOEV) Stock Rises on Strategic Changes

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During the last session 13M of Canoo Inc.’s (NasdaqGS:GOEV) shares were traded. The stock closed at $7.42 per share indicating that it gained $0.87 or 13.28% during that day which brings the Canoo Inc.’s valuation to $1.76B.

The 52-week high for the Canoo Inc.’s shares is $24.90. That puts it -70.19% from that peak but still a nice gain since the share price dropped to a 52-week low of $5.75, while the S&P 500’s share price change was of 33.26%.

What does the trading volume tell us about the GOEV stock?

During the last trading session, Canoo Inc. (NasdaqGS:GOEV) has seen decay in its daily volume. The daily volume was of 3M, while in the last 10 days the average was 3.43M and last three months – 2.73M.

Shrinking short interest

The Canoo Inc.’s shares are seeing a decreasing short interest compared to the previous month. As of today, there are 31.06M shares being shorted which translates into 10.11 of a short ratio for GOEV, while in the previous month the shorted shares were 32.33M.

Canoo Inc. (NasdaqGS:GOEV)’s financials

With a market cap of 1.76B, Canoo Inc. holds a total cash of $563.56M that translates into $2.37 per share, while the total debt is of $14.61M.

The current revenue is of $2.55M that is $0.01 per share.