While Rivian (RIVN) and Lordstown (RIDE) post a narrower-than-expected loss in Q1, ElectraMeccanica (SOLO), Canoo (GOEV) and Workhorse (WKHS) incur a wider-than-anticipated loss.
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Specialty EV maker Canoo (NASDAQ: GOEV) reported its first-quarter financial update last night, and it gave investors a warning they didn't want to hear. The drop extended the stock's downward trend this year, with it dropping over 35% in just the last month. Rather it was a warning in the company's Securities and Exchange Commission (SEC) filing.