Why Is Penny Stock Canoo Falling On Thursday?

Benzinga12-19

Canoo Inc. (NASDAQ:GOEV) shares are trading lower in the premarket session on Thursday. The company is grappling with major financial challenges, leading to the furlough of 82 employees and the ...

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(NASDAQ:GOEV) shares are trading lower in the premarket session on Thursday.\nThe company is grappling with major financial challenges, leading to the furlough of 82 employees and the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/why-penny-stock-canoo-falling-112736359.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Is Penny Stock Canoo Falling On Thursday?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Is Penny Stock Canoo Falling On Thursday?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-19 19:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/why-penny-stock-canoo-falling-112736359.html><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Canoo Inc. (NASDAQ:GOEV) shares are trading lower in the premarket session on Thursday.\nThe company is grappling with major financial challenges, leading to the furlough of 82 employees and the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/why-penny-stock-canoo-falling-112736359.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4099","symbol_name":"汽车制造商","start_time":0,"source_url":"https://finance.yahoo.com/news/why-penny-stock-canoo-falling-112736359.html","article_id":"2492912696","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/DXwoPnE7FXO7z7DhmjifpQ--~B/aD01NTM7dz05ODM7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/Benzinga/6b0d1a96361d820367653a32455847d6"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2492912696","pubTimestamp":1734607656,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Canoo Inc.  shares are trading lower in the premarket session on Thursday.The company is grappling with major financial challenges, leading to the furlough of 82 employees and the temporary shutdown of its factories in Oklahoma.The move comes as the electric vehicle manufacturer works to secure the necessary capital to continue its operations.Canoo is currently in advanced discussions with multiple capital sources but acknowledges the tough decision to furlough staff, particularly during the holiday season. The company expressed hope of bringing employees back once its financial situation stabilizes.Also Read: Dow Dips Over 1,100 Points, Falling For 10th Session As Powell Adopts Hawkish Stance: Greed Index Moves To ‘Fear’ Zone. Canoo said, “We regret having to furlough our employees, especially during the holidays, but we have no choice at this point. We are hopeful that we will be able to bring them back to work soon.”This article Why Is Penny Stock Canoo Falling On Thursday?2024 Benz","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4099":"汽车制造商","GOEV":"Canoo Inc.","GOEVW":"Canoo Inc. Warrant 2025/09/05 11.5C"},"translate_title":"为什么细价股Canoo周四下跌？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GOEV":0.9,"GOEVW":0.9},"content_text":"Canoo Inc. (NASDAQ:GOEV) shares are trading lower in the premarket session on Thursday.\nThe company is grappling with major financial challenges, leading to the furlough of 82 employees and the temporary shutdown of its factories in Oklahoma.\nThe move comes as the electric vehicle manufacturer works to secure the necessary capital to continue its operations.\nCanoo is currently in advanced discussions with multiple capital sources but acknowledges the tough decision to furlough staff, particularly during the holiday season. The company expressed hope of bringing employees back once its financial situation stabilizes.\nAlso Read: Dow Dips Over 1,100 Points, Falling For 10th Session As Powell Adopts Hawkish Stance: Greed Index Moves To ‘Fear’ Zone\nCanoo said, “We regret having to furlough our employees, especially during the holidays, but we have no choice at this point. We are hopeful that we will be able to bring them back to work soon.”\nIn its third quarter reported in November, the company revealed a quarterly cash outflow of $31.3 million, down 20.7% from the second quarter and down 58.6% on a year-over-year basis.\nAs of the end of the third quarter, the company had $16 million in cash, cash equivalents, and restricted cash. Canoo is focused on consolidating operations and reducing costs, which includes a shift in its manufacturing footprint from California to Texas and Oklahoma, the company said in a release dated November 14.\nThis restructuring is expected to save the company $12 million to $14 million annually.\n“This will continue to be a difficult and critical period as we do everything we can to get the capital in place, bring jobs back online, and get back on track with our step-level manufacturing plan,” said Tony Aquila, Investor, Executive Chairman, and CEO in November.\nPrice Action: GOEV shares are trading lower by 6.59% to $0.1177 premarket at last check Thursday.\nRead Next:\n\nQuantum Computing, Rigetti, D-Wave Skyrocket Up To 300% In 5 Sessions After Google Unveils Willow Chip, But Analysts Urge Caution: ‘Not Every TikTok Guitarist Is The Next Taylor Swift’\n\nUp Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market.\nGet the latest stock analysis from Benzinga?\n\nThis article Why Is Penny Stock Canoo Falling On Thursday? originally appeared on Benzinga.com\n© 2024 Benzinga.com. Benzinga does not provide investment advice. 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