Why Canoo Stock Is Trading Higher Today

Shares of electric-vehicle start-up Canoo (NASDAQ: GOEV) were trading higher on Thursday after the company revealed an electric pickup truck that it plans to start manufacturing in 2023.

As of 1:56 p.m. EST, Canoo's shares were up about 13.1% from Wednesday's closing price.

Like other upcoming Canoo vehicles, the company's new pickup truck is based on its proprietary "skateboard" platform, which incorporates the motors, batteries, suspension, and chassis structure into a single unit that is designed to be as flat as possible. (By the way, the truck doesn't yet have a name. A spokesperson confirmed that the company is simply referring to it as "the Canoo pickup truck" for now.)

Source Fool.com