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Canoo Holdings Ltd. (GOEVW)

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Previous Close1.7500
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    • Deadline Alert: Kessler Topaz Meltzer & Check, LLP Reminds Investors of Deadline in Securities Fraud Class Action Lawsuit Filed Against Canoo Inc.

      Deadline Alert: Kessler Topaz Meltzer & Check, LLP Reminds Investors of Deadline in Securities Fraud Class Action Lawsuit Filed Against Canoo Inc.

      RADNOR, Pa., May 15, 2021 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP announces that a securities fraud class action lawsuit has been filed in the United States District Court for the Central District of California against Canoo Inc. (NASDAQ: GOEV; GOEVW) (“Canoo”) f/k/a Hennessy Capital Acquisition Corp. IV (NASDAQ: HCAC; HCACW; HCACU) (“Hennessy Capital”) on behalf of those who purchased or acquired Canoo securities between August 18, 2020 and March 29, 2021, inclusive (the “Class Period”). Investor Deadline Reminder: Investors who purchased or acquired Canoo securities during the Class Period may, no later than June 1, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll free at (844) 887-9500; via e-mail at info@ktmc.com; or click https://www.ktmc.com/canoo-class-action-lawsuit?utm_source=PR&utm_medium=Link&utm_campaign=Canoo Canoo Holdings Ltd. (“Canoo Holdings”) was an electric vehicle (“EV”) company that touted a “unique business model that defies traditional ownership to put customers first.” On or about December 21, 2020, Canoo Holdings became a public entity via merger with Hennessy Capital, with the surviving entity named Canoo (the “Merger”). The Class Period commences on August 18, 2020, when Hennessy Capital and Canoo Holdings issued a joint press release announcing the Merger. In its press release, Canoo Holdings touted its engineering services line and the Hyundai partnership for the co-development of a future EV platform. On March 29, 2021, after the market closed, Canoo held a conference call in connection with its fourth quarter 2020 financial results which were released the same day. During the call, defendant, Tony Aquila, a director of Canoo since the closing of the Merger, revealed that Canoo would no longer focus on its engineering services line. The same day, Canoo also announced that Paul Balciunas, who served as the Chief Financial Officer of Canoo following the close of the Merger, had resigned, effective April 2, 2021. Following this news, Canoo’s stock price fell $2.50, or 21.19%, to close at $9.30 per share on March 30, 2021. The complaint alleges that, throughout the Class Period, the defendants failed to disclose to investors that: (1) Canoo had decreased its focus on its plan to sell vehicles to consumers through a subscription model; (2) Canoo would deemphasize its engineering services business; (3) contrary to prior statements, Canoo did not have partnerships with original equipment manufacturers and no longer engaged in the previously announced partnership with Hyundai; and (4) as a result of the foregoing, the defendants’ positive statements about Canoo’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. Canoo investors may, no later than June 1, 2021, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com. CONTACT: Kessler Topaz Meltzer & Check, LLPJames Maro, Jr., Esq.Adrienne Bell, Esq.280 King of Prussia RoadRadnor, PA 19087(844) 887-9500 (toll free)info@ktmc.com



      NEW ORLEANS, May 14, 2021 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors of pending deadlines in the following securities class action lawsuits: Vroom, Inc. (VRM)Class Period: 6/9/2020 - 3/3/2021Lead Plaintiff Motion Deadline: May 21, 2021SECURITIES FRAUDTo learn more, visit https://www.ksfcounsel.com/cases/nasdaqgs-vrm/ Canoo Inc. (GOEV, GOEVW)Class Period: 8/18/2020 - 3/29/2021Lead Plaintiff Motion Deadline: June 1, 2021SECURITIES FRAUDTo learn more, visit https://www.ksfcounsel.com/cases/nasdaqgs-goev/ Amdocs Limited (DOX)Class Period: 12/13/2016 - 3/30/2021Lead Plaintiff Motion Deadline: June 8, 2021SECURITIES FRAUDTo learn more, visit https://www.ksfcounsel.com/cases/nasdaqgs-dox/ FibroGen, Inc. (FGEN)Class Period: 10/18/2017 - 4/6/2021Lead Plaintiff Motion Deadline: June 11, 2021SECURITIES FRAUDTo learn more, visit https://www.ksfcounsel.com/cases/nasdaqgs-fgen/ If you purchased shares of the above companies and would like to discuss your legal rights and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner, Lewis Kahn, toll-free at 1-877-515-1850, via email (Lewis.Kahn@KSFcounsel.com), or via the case links above. If you wish to serve as a Lead Plaintiff in the class action, you must petition the Court on or before the Lead Plaintiff Motion deadline. About KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana. To learn more about KSF, you may visit www.ksfcounsel.com. Contact: Kahn Swick & Foti, LLCLewis Kahn, Managing Partnerlewis.kahn@ksfcounsel.com1-877-515-18501100 Poydras St., Suite 3200New Orleans, LA 70163

    • GlobeNewswire

      SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Canoo Inc., of Class Action Lawsuit and Upcoming Deadline – GOEV; GOEVW; HCAC; HCACW

      NEW YORK, May 14, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Canoo, Inc. (formerly known as Hennessy Capital Acquisition Corp. IV) (“Canoo” or the “Company”) (NASDAQ: GOEV; GOEVW; HCAC; HCACW) and certain of its officers. The class action, filed in the United States District Court for the Central District of California, and docketed under 21-cv-03080, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired publicly-traded Canoo common stock and/or warrants from August 18, 2020, through and including March 29, 2021, (the “Class Period”), seeking to recover damages pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”), 15 U.S.C. §§78j(b) and 78t(a), and Rule 10b-5 promulgated thereunder (the “Class”). If you are a shareholder who purchased Canoo common stock and/or warrants during the Class Period, you have until June 1, 2021 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. [Click here for information about joining the class action] Canoo is a Delaware corporation and maintains its principal executive offices in 19951 Mariner Avenue, Torrance, California. The Company was incorporated in Delaware on August 6, 2018 and conducted its initial public offering in March 2019. The Company was formed for the purpose of effecting a business combination with specific focus on businesses in the industrial, technology and infrastructure sectors. Such companies are referred to as “blank check” companies or special purpose acquisition companies (“SPACs”). In December 2020, the Company entered into a business combination with Canoo Holdings Limited (the “Business Combination”). The combined company purports to be a mobility technology company that develops electric vehicles (“EV”). The Company’s common stock and warrants are listed on the NASDAQ under the ticker symbol “GOEV” and “GOEVW,” respectively. Prior to December 22, 2020, the Company’s common stock and warrants traded under the symbols “HCAC” and “HCACW,” respectively. The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (i) the Company’s engineering services was not a viable business, would not provide meaningful revenue in 2021, and would not reduce operational risk; (ii) that the Company would no longer be focused on its subscription-based business model; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times. On March 29, 2021, after the market closed, Canoo issued a press release (“Q4 Release”) reporting its fourth quarter and full year 2020 results. The Q4 Release removed the language touting its “unique business model” simply stating: “Canoo has developed breakthrough electric vehicles that are reinventing the automotive landscape with bold innovations in design and pioneering technologies.” That same day, on an earnings call to discuss the Company’s fourth quarter and full year 2020 results, Canoo executives confirmed that the Company was radically changing its business model, and it was revealed that the Canoo’s CFO was being replaced. In response to this news, shares of Canoo fell $2.50 (or $21.2%) from a March 29, 2021 close of $11.80 per share to close at $9.30 per share on March 30, 2021, on heavy volume. The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com888-476-6529 ext. 7980