BUZZ-Canoo slumps after bankruptcy filing
ReutersJan 21, 2025 11:33 AM
Shares of EV startup Canoo GOEV.O fall 74.2% to 34 cents premarket
Canoo on Friday said it filed for bankruptcy under Chapter 7 and will be liquidating its assets
A court-appointed trustee will manage the liquidation of the company's assets and distribution of proceeds to creditors, co said
It said it was unable to secure financial support from the U.S. Department of Energy's Loan Program Office and failed to secure foreign capital, and will cease operations immediately
GOEV fell 98.7% in 2024
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
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