BUZZ-Canoo slumps after bankruptcy filing

Reuters01-21

** Shares of EV startup Canoo GOEV.O fall 74.2% to 34 cents premarket

** Canoo on Friday said it filed for bankruptcy under Chapter 7 and will be liquidating its assets

** A court-appointed trustee will manage the liquidation of the company's assets and distribution of proceeds to creditors, co said

** It said it was unable to secure financial support from the U.S. Department of Energy's Loan Program Office and failed to secure foreign capital, and will cease operations immediately

** GOEV fell 98.7% in 2024

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))

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