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Why Canoo Stock Is Paddling Higher Today

TheMotleyFool

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Why Canoo Stock Is Paddling Higher TodayPhoto, wide shot, wide-angle lens, soft focus, Car rental company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-C39HK7mRtkD4E8dIGhNKdJKJ.png?st=2023-05-14T13%3A30%3A04Z&se=2023-05-14T15%3A30%3A04Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-13T20%3A57%3A44Z&ske=2023-05-14T20%3A57%3A44Z&sks=b&skv=2021-08-06&sig=c7kEiWtHt1KibrlL7jP9uEmEuV%2BuAnv1nRBACXoedSk%3D

Shares of Canoo (NASDAQ: GOEV) stock got a kick start this morning when the electric vehicle start-up announced it is replacing current CFO Ken Manget with current board member Greg Ethridge -- who becomes the company's new CFO effective immediately, and who will resign his board seat by the end of the year.

Canoo stock is soaring 18.3% through 12:25 p.m. ET on the news.

Canoo didn't give a whole lot of detail about its abrupt change of course. Manget had only held the CFO job for about seven months, having taken over from interim CFO Ramesh Murthy back on Jan. 26, and the appointment was supposed to have been permanent.

Source Fool.com

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