What's Going On With Canoo Shares Wednesday?

Canoo GOEV shares are trending on Wednesday. Over the past week, Canoo announced a definitive purchase agreement with Go2 Delivery, received multiple design awards, and joined the Russell 3000 index.

What Happened: Mostly recently, Canoo signed the purchase agreement with Go2 Delivery. Under the agreement, Go2 Delivery agreed to buy five fully electric commercial delivery vans.

Go2 Delivery plans to integrate these vehicles into their delivery fleet in order to decrease environmental impact and increase operational efficiency. The logistics solutions company could purchase up to 85 additional vans.

Separately, on July 1, Canoo joined the Russel 3000 index, the small-cap Russell 2000 index and the Russell Microcap index.

Lastly, Canoo announced in late June it received multiple Red Dot 2024 Design Awards for Exceptional Design Innovation of Commercial EVs. The company won Best of the Best in the Commercial Vehicles Category, its LDV 190 was nominated for Red Dot: Luminary also its American Bulldog electric pickup truck is a Red Dot winner.

“Our goal is to purposefully design EVs that meet the sustainably, reliability, functionality and the ergonomic needs of our customers globally, including those that require right-hand drive,” said Tony Aquila, CEO and executive chairman at Canoo.

“This award is a testament of our design philosophy and values and our team’s dedication and hard work to the aesthetically functional design of innovative electric vehicles that help to modernize transportation across the globe.”

See Also: Tesla More Than Doubles Energy Storage Deployment To Mark Its Best Quarter Yet Even As EV Demand Concerns Persist

GOEV Price Action: At the time of publication, Canoo stock is trading 3.04% lower at $2.25, according to data from Benzinga Pro.

Image: Courtesy of Canoo, Inc.