GOEV Stock News: Canoo Inc sinks as EV stocks pull back on NASDAQ decline
Premium|Take advantage of 60% OFF on your first month.
Grab this special offer, it's 7 months for FREE deal! And access ALL our articles and analysis.
You have reached your limit of 5 free articles for this month.
BLACK FRIDAY SALE! 60% OFF!
Grab this special offer, it's 7 months for FREE deal! And access ALL our articles and analysis.
CLAIM OFFER- NASDAQ:GOEV fell by 2.98% during Wednesday’s trading session.
- Canoo landed a trip to the moon with partnership in the Artemis project.
- Tesla reported its earnings after the markets closed.
NASDAQ:GOEV edged lower on Wednesday as the NASDAQ index bore the brunt of a colossal decline from streaming giant Netflix (NASDAQ:NFLX). Shares of GOEV dipped by 2.98% and closed the trading session at $4.89. The EV startup is trading below both its 50-day and 200-day moving averages indicating that shares are mired in a downward trend that has mirrored the decline in the NASDAQ so far in 2022. On Wednesday, the broader markets were split as the Netflix collapse weighed on the S&P 500 and the NASDAQ. The Dow Jones was the only major average to post a gain as the blue-chip index added 249 basis points during the session.
Stay up to speed with hot stocks' news!
Canoo has added a new partnership to its portfolio, and this one involves travelling into space with US astronauts. The Artemis project will be America’s first launch to the moon since the Apollo project in 1972, and Canoo will have a hand when the launch takes place in 2025. Canoo will be providing a CTV or Crew and Transport Vehicle in a contract valued at nearly $150,000. Competing bidders have until the end of April to protest the award, so nothing is set in stone as of yet for Canoo.
GOEV stock forecast
In other EV news, industry leader Tesla (NASDAQ:TSLA) reported its first quarter earnings after the close and the company did not disappoint. Earnings per share came in much higher than expected at $3.22 per share vs expected of $2.26 per share. Revenues grew 81% year over year and came in at $18.76 billion compared to $17.80 billion expected by analysts. Shares of TSLA were up by nearly 7% in after hours trading.
- NASDAQ:GOEV fell by 2.98% during Wednesday’s trading session.
- Canoo landed a trip to the moon with partnership in the Artemis project.
- Tesla reported its earnings after the markets closed.
NASDAQ:GOEV edged lower on Wednesday as the NASDAQ index bore the brunt of a colossal decline from streaming giant Netflix (NASDAQ:NFLX). Shares of GOEV dipped by 2.98% and closed the trading session at $4.89. The EV startup is trading below both its 50-day and 200-day moving averages indicating that shares are mired in a downward trend that has mirrored the decline in the NASDAQ so far in 2022. On Wednesday, the broader markets were split as the Netflix collapse weighed on the S&P 500 and the NASDAQ. The Dow Jones was the only major average to post a gain as the blue-chip index added 249 basis points during the session.
Stay up to speed with hot stocks' news!
Canoo has added a new partnership to its portfolio, and this one involves travelling into space with US astronauts. The Artemis project will be America’s first launch to the moon since the Apollo project in 1972, and Canoo will have a hand when the launch takes place in 2025. Canoo will be providing a CTV or Crew and Transport Vehicle in a contract valued at nearly $150,000. Competing bidders have until the end of April to protest the award, so nothing is set in stone as of yet for Canoo.
GOEV stock forecast
In other EV news, industry leader Tesla (NASDAQ:TSLA) reported its first quarter earnings after the close and the company did not disappoint. Earnings per share came in much higher than expected at $3.22 per share vs expected of $2.26 per share. Revenues grew 81% year over year and came in at $18.76 billion compared to $17.80 billion expected by analysts. Shares of TSLA were up by nearly 7% in after hours trading.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.