From a 27% drop to a 33% gain. It’s what has happened to stock in EV manufacturer Canoo.
Investors in the company with a manufacturing plant in Oklahoma City and a battery operation in Pryor will learn Wednesday the latest financial status of the company.
Canoo plans to report its third quarter financial results after the market closes on Nov. 13 and will hold a conference all at 4 p.m. Central Time to discuss the results. The call will be hosted by Tony Aquila, Investor, Executive Chairman and Chief Executive Officer, Kunal Bhalla, Chief Financial Officer, and Ramesh Murthy, Senior Vice President Finance, Chief Accounting Officer, and Chief Administrative Officer.
The financial viability of the company has been questioned in recent months and earlier in November, Canoo even filed documents with the Securities and Exchange Commission indicating such.
““Our management has performed an analysis of our ability to continue as a going concern and has identified substantial doubt about our ability to continue as a going concern. If we are unable to obtain sufficient additional funding or do not have access to capital, we may be required to terminate or significantly curtail our operations.”
The statement caused shares to plummet 27%
