Canoo falls 5.2%, first-quarter net loss widens and misses expectations

Electric vehicle startup Canoo (GOEV.US) fell 5.2% to $2.645

Electric vehicle startup Canoo (GOEV.US) fell 5.2% to $2.645.
Canoo\’s first-quarter net loss widened to $110.7 million from $90.7 million in the same period last year. Analysts on average expected a loss of $55.2 million; an adjusted loss per share of $1.13. Analysts expected a loss of $0.97.
No sales were recorded during the period. Analysts expected $1.1 million.
Slowing U.S. demand and fierce competition from Chinese electric carmakers in the world\’s largest auto market have hit demand for companies including Canoo.

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