Canoo falls on weak annual revenue forecast, going concern doubt

Canoo

01/04/2024 23:41

** Shares of electric-vehicle maker Canoo  GOEV.O  fall 43%
to $2.23 after the bell
    ** Canoo expects 2024 revenue to be between $50 mln and $100
mln, below analysts' expectations of $149.6 mln - LSEG data
    ** The company reported a net loss of $302.6 mln, or 53
cents/shr, for the year ended Dec. 31, vs $487.7 mln, or
$1.81/shr, a year earlier.
    ** Co warned about its dwindling cash and its ability to
continue as a going concern
    ** GOEV stock has fallen ~35%, YTD

 (Reporting by Priyanka.G)
 ((Priyanka.g@thomsonreuters.com))