Why EV Maker Canoo's Shares Plunged Monday
Investors crushed the shares of electric vehicle (EV) start-up Canoo (NASDAQ: GOEV) Monday after details emerged of its latest round of raising capital. As of 10:43 a.m. ET, Canoo shares were still down by 11.7%. Today's drop comes after the company said it would raise more than $50 million by selling new shares to institutional investors at a discounted price.