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GOEV - Down 85% in This Bear Market Can Canoo Recover in 2023?
Canoo Inc.
In the year or so since the stock market hit its peak on Jan. 3, 2022, shares of electric vehicle (EV) company Canoo (NASDAQ: GOEV) have tumbled roughly 85%, according to data from S&P Global Market Intelligence .
The last year of trading has been brutal for EV stocks generally, with high inflation, rising interest rates, and fears that a recession is on the horizon prompting severe valuation contraction for most companies in the space.