Why EV Stock Canoo Surged 49% in November, but Is Sinking Now

Electric vehicle (EV) company Canoo (NASDAQ: GOEV) sizzled in the month of November, when its stock gained an astounding 49.3% according to data provided by S&P Global Market Intelligence. Although companies in the EV sector hit some crazy valuations in November, Canoo's rally stood out, as the stock had been languishing since it crashed in March.

Unfortunately for shareholders, though, the euphoria is already dying down. As of this writing, Canoo shares have declined by 28% so far in December.

Canoo shares started taking off on Nov. 15 -- the day the EV start-up reported its third-quarter numbers and revealed key production timelines.

Source Fool.com