Shares of Canoo Inc.
GOEV,
fell more than 7% in the extended session Monday after the electric-vehicle startup reported a wider-than-expected quarterly loss. Canoo said it lost $138.1 million, or 60 cents a share, in the fourth quarter, compared with a loss of $9.2 million, or 6 cents a share, in the year-ago quarter. FactSet consensus, drawn from four analyst estimates, called for a loss of 51 cents a share for the quarter. Canoo, which went public in December 2020 after a merger with a blank-check company, said it ended the quarter with cash and equivalents of $224.7 million. Canoo is a pre-revenue company, and its plans include an electric delivery van and a pickup truck. “We continue to make key progress and recently executed multiple agreements with the state of Oklahoma, including for the purchase of 1,000 vehicles,” Chief Executive…
