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Why EV Maker Canoo Shares Jumped Today
Specialty electric vehicle (EV) start-up Canoo (NASDAQ: GOEV) has had a difficult year. After its first-quarter financial report, Canoo management expressed “substantial doubt” about its future, saying it may not be able to continue operating its business. Since that time, however, the company announced a nonbinding agreement in July for Walmart to purchase up to 9,000 Canoo commercial delivery vans.