Canoo stock jumps after signing a deal with Walmart for 4,500 all electric delivery vehicles
- 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 up to 10,000 units.
- LDV is expected to begin hitting the road in 2023 and the companies plan to kick-off advanced deliveries to refine and finalize vehicle configuration in the Dallas Fort Worth metroplex in the coming weeks.
- Tony Aquila, Investor, Chairman and CEO of Canoo said, "Walmart's massive store footprint provides a strategic advantage in today's growing 'Need it now' mindset and an unmatched opportunity for growing EV demand, especially at today's gas prices."
- Canoo's electric vehicles will be driven used by Walmart associates to deliver online orders, from groceries to general merchandise, as well as the potential to be used for Walmart GoLocal, the retailer's delivery-as-a-service business.
- Through the expansive last mile delivery network, Walmart (WMT) can reach 80% of the U.S. population with same-day delivery on a growing assortment of items.
- Canoo anticipates starting production of the Lifestyle Delivery Vehicles beginning in Q4, 2022.
- GOEV shares up 72% PM.
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Comments (19)
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
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
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
@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.
@trusthouse Agree. Short tiny or even better, wait until the stock is on the way down again and is trading weak before shorting.
@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!
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.