GOEV - Why Canoo Stock Zoomed Ahead This Week
2023-04-14 17:51:09 ET
According to data compiled by S&P Global Market Intelligence , Canoo (NASDAQ: GOEV) stock was a winner this week, surging more than 28% higher over the period. Several items of good news, both specific to the electric vehicle (EV) maker and in general, were the factors driving the stock's advance.
Canoo certainly got the week off to a roaring start, announcing on Monday that it had signed a long-term lease with affiliated entity AFV Partners for a factory located in Oklahoma City. The EV company's initial footprint in the facility will be nearly 500,000 square feet, and it has the option of expanding that presence.
The factory, an existing manufacturing site, sits on over 120 acres of space. Canoo said it can support a wide range of vehicle-making functions including robotic assembly, and paint and body shops.
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Why Canoo Stock Zoomed Ahead This Week