EV startup Canoo faces financial challenges as it warns about its future due to dwindling cash reserves and disappointing revenue forecasts. The company reported minimal sales, missed revenue expectations, and provided a lower revenue guidance for 2024, leading to a significant drop in its stock price.
$GOEV (-28.7% pre) EV startup Canoo's 2024 revenue forecast disappoints, shares tumble - Reuters https://t.co/TNC5YBgDAl
EV startup Canoo's 2024 revenue forecast disappoints, shares tumble. $EVGO. Who was disappointed? https://t.co/D6PHHrrYZx
EV maker Canoo forecast 2024 revenues well below expectations mid a broader slowdown in demand for battery-powered cars that has hit startups. https://t.co/ZnO7vRrnci
Canoo Stock Drops 26% After Fourth-Quarter Earnings and Sales Outlook https://t.co/z1buO77x4t
Canoo spent double its annual revenue on the CEO’s private jet in 2023 https://t.co/WuqPt8T2HO
Canoo’s downbeat forecast sends stock tumbling, in latest EV setback https://t.co/PVnYZJRWeq
Another fledgling EV company reported almost non-existent sales and bad guidance tonight. $GOEV (Canoo) -36% after hours generated just $367K in revenue (vs $700K expected) on 17 completed vehicles, and guided to $50M-$100M in 2024 Rev (vs $153M exp by analysts). Somehow this…
EV startup Canoo warns about future with dwindling cash https://t.co/UyPc7ctAho https://t.co/WsuNhoJ6Wi
$GOEV going concern!! What a dumpster fire of losses and massive cash burn.