Why Canoo Stock Is Up Big Again Today

Just days after a trading session that saw shares climb 80%, Canoo (NASDAQ: GOEV) is on the go once again. On Thursday, shares traded up as much as 40% on news that the electric truck start-up has been selected to work with the U.S. Army on a potential project.

Canoo, which is developing electric delivery vehicles and a van-like consumer vehicle, has taken shareholders on a wild ride this year. In May, the company issued a dreaded "going concern" notice, warning in its regulatory filing that it was running short on cash and saying that "substantial doubt exists" that it would be able to continue as a going concern for the next 12 months.

Heading into July, the stock was down about 75% year to date.

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Source Fool.com