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Why Canoo Stock Is Sinking Again Today

Why Canoo Stock Is Sinking Again Today

Canoo (NASDAQ: GOEV) stock is seeing significant sell-offs in Wednesday's trading. The electric vehicle (EV) company's share price was down roughly 6.3% in the daily session as of 11:30 a.m. ET, according to data from S&P Global Market Intelligence. While there wasn't any fresh news directly related to Canoo's business, recent earnings results from another player in the EV space suggest that demand may be weakening in the market.