Why Canoo Stock Fell 10.2% in May
What happened
Shares of Canoo (NASDAQ:GOEV) slumped 10.2% in May, according to data from S&P Global Market Intelligence. The stock sold off amid a broader pullback that trimmed valuations on speculative plays in the electric vehicle (EV) space.
GOEV data by YCharts
Canoo’s stock appears to have gotten a boost from the company’s first-quarter earnings release, but it still closed out the month down double digits. Canoo published its first-quarter results on May 17, recording no revenue in the period…
