Why Canoo Shares Jumped Friday
Specialty electric-vehicle (EV) maker Canoo (NASDAQ: GOEV) hasn't yet begun to produce and sell its lifestyle and multipurpose EVs, but it says it has strong demand for its products. The company announced its first-quarter financial update earlier this week, but there wasn't any major news.
Late yesterday, however, the company posted a tweet that suggested it has a new customer for its multipurpose delivery vehicle (MPDV). That had the stock moving higher by as much as 6.3% this morning. As of 12:05 p.m. ET on Friday, Canoo shares were still higher by 3.3%.
Source Fool.com
