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Canoo stock jumps after signing a deal with Walmart for 4,500 all electric delivery vehicles

Jul. 12, 2022 6:19 AM ETWalmart Inc. (WMT), GOEVBy: Niloofer Shaikh, SA News Editor19 Comments
  • In order to contribute to company's goal to achieve zero-emissions by 2040, Walmart (NYSE:WMT) has signed a deal with Canoo (NASDAQ:GOEV) to purchase 4,500 all-electric delivery vehicles, beginning with the Lifestyle Delivery Vehicle (LDV), with the option to purchase

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Comments (19)

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pat45 profile picture
SO did WMT actually pay GOEV anything???? They should have just to get 61mil GOEV warrents at $2.15 which are now worth over $200Mil for WMT
Flipp profile picture
If your not in, stay out, this company was created via a SPAC, the only winners are the founding capital acquisition company, look at the performance of all SPACS, they all have been
Destroyed value wise, many have revenue but no profits for years to come, I would stay away and invest in a proven company with profits
@Flipp how many SPACS have a Chairman/CEO who is one of the largest shareholders? Canoo is one of those rare examples.
Here comes the equity offering!!
Great news and validation of Canoo. Other deals/investors sure to follow. I think this means that the short case is significantly degraded.
sambam1 profile picture
Is this the real thing or a pump and dump?
@sambam1 The news is real but so are the company's financials. Be careful. In and out trade is the play here.
charly333 profile picture
@sambam1 Walmart is often using its name to play games. Any agreement could be fulfilled or could be just hot air. In the case of Canoo I am not expecting a real business. So I think it's a chance to sell today or to trade it. Just my opinion, be careful, GL.
@sambam1 This is in all honesty a huge win for Canoo. However, I wonder what kind of deal did they give to Walmark to ink it?

I don't think it is good for their longterm financial health. That aside, how are they going to find the money needed to start production.

If I had a profitable position in Canoo I would close it out immediately.
Be prepared for a stock offering very soon with this bump on news.
@ek1971ontario probably - which means people are willing to invest to get to production now that that there is a real validation product order.
28% of the company stock has been shorted. Get ready bears, time for max pain
I am shocked. I was going to short them. Glad I didn't
trusthouse profile picture
@KimBEAV Lucky you are. Now you can look for the top of the short squeeze and open a short position. But that is if borrow fees don't get crazy like with FFIE and if shorts are available. Now fees are 25.07% at IB. Not cheap at all, and shorts available are not sufficient. I'll try to open a tiny short position today, if shorts can be found, but it's risky indeed.
charly333 profile picture
@trusthouse Agree. Short tiny or even better, wait until the stock is on the way down again and is trading weak before shorting.
trusthouse profile picture
@charly333 I bought pre-market and sold soon after the open for a nice profit, but my short order above five was not filled. As I feared, borrow fees jumped to 68% which means intraday only. Not for me. GLTY!
Watblieft profile picture
Diamond in the rough, if they can overcome tough finance climate and figure mass production out. Big if's, but the vehicle is so unique, the upside is huge.

Glad Walmart agrees.

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