Canoo (NASDAQ: GOEV) and Gogoro (NASDAQ: GGR) are both electric vehicle makers that went public by merging with special purpose acquisition companies (SPACs) over the past two years.

Canoo, an Arkansas-based developer of electric-powered delivery vans, merged with Hennessy Capital Acquisition Corp. IV in December 2020. The combined company's stock started trading at $8.52 after the merger but now trades at $4 a share. Gogoro, which is based in Taiwan, is an electric scooter manufacturer and battery network operator. The company merged with Poema Global this April, and its stock started trading at $15.99 on the first day. But today, it's only worth $6 a share.

Image source: Gogoro.

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Source Fool.com