What's Going On With Canoo Shares Friday

Canoo, Inc. GOEV stock is trending on Friday. The company is expected to report 2024 fiscal year second quarter earnings on Wednesday after the market closes.

The Details: Analysts estimate a loss of 77 cents per share and revenue of $913 thousand.

For the first quarter, Canoo missed analysts EPS estimates by 16.49%. However, for the six earnings reports before this fiscal year’s first quarter Canoo beat analyst estimates for EPS.

What Else: Canoo shares are currently moving towards the lower end of its 52-week range. The stock is trading at around $1.70, with a 52-week range between $1.22 and $15.96. Additionally, the 50-day moving average for Canoo shares stands at $2.08. Lastly, the stock’s average session volume is 3.76 million which it is currently trading below at 1.65 million.

How To Buy Canoo Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Canoo GOEV's case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

See Also: Tim Walz Could Be Good For Electric Vehicle Stocks: ‘You Need To Skate Where The Puck Is Going To Be. The Puck Is Going To Be In EVs’

GOEV Price Action: Canoo stock is trading 0.57% higher at $1.77 at the time of publication per data from Benzinga Pro.

Image: Courtesy of Canoo