GOEV (Canoo), not to be confused with EVGO (the EV chargers), has had a couple news articles pop up recently. They are planning on building a big facility in Pryor, OK and also some facilities here in Bentonville, AR.
I’m still on the fence with this company, but I figured with some of the press I’ve been coming across their stock might get a little bump from people taking little spectualive positions.
Their stock has been pretty beat down, if it dips at / below $5 again I might buy 100 shares or something as a long-term hold just to see where it goes.
Supposedly they already 14,000 vehicles on pre-order, and at $30k-$50k a pop that’s a sizeable chunk of money if they can deliver.
I only skimmed this post but sharing because I haven’t seen this style of Reddit DD in a while hahahaha it’s like peak wsb style DD but posted on r/stocks
Digging up this old thread on Canoo since their stock has jumped 70% pre-market!
Walmart Inc WMT has struck a deal with Canoo Inc GOEV to buy 4,500 electric vehicles as part of the U.S. retailer’s goal to achieve -zero emissions by 2040.
Shares of Canoo jumped about 37% in trading before the bell, after Walmart said on Tuesday that it also had an option to purchase up to 10,000 units as it electrifies its delivery fleet.
Financial terms of the deal were disclosed.
I knew something like this was bound to happen. You don’t build a factory in Walmart’s home town without having some sort of interaction with the giant. I’m sure it took a lot of schmoozing but it looks like it has paid off for Canoo.
Seeing how beat-down the stock is, I think it could be a good long-term investment. Assuming they can actually deliver. I think they had a big shake-up at the executive level not too long ago. Probably going to do some more research today.
