Longtime holders of Canoo (NASDAQ: GOEV) stock still may not be doing well, but its shares have been making up some ground this week. The stock is still down over 80% in 2022, but so far this week, shares are up about 23% heading into the final trading day, according to data provided by S&P Global Market Intelligence.

This week's rally continues a positive trend that began late last week, and investors need to put it in perspective with where the company saw itself just months ago. After its first-quarter financial and operational update, management expressed "substantial doubt" about its future, saying it may not be able to continue operating its business. 

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Source Fool.com