Longtime holders of Canoo (NASDAQ: GOEV) stock still may not be doing well, but its shares have been making up some ground this week. But after a more than 80% drop this year, some aggressive investors are following the CEO's lead and buying Canoo shares this week.
With competition ramping up over the past few years, the electric vehicle (EV) landscape has become a virtual battlefield. Canoo (NASDAQ: GOEV), however, has taken a major step toward appearing on actual battlefields. As of 11:11 a.m. ET on Thursday, shares of Canoo are up 4.9%, falling from their earlier climb of 11.2%.
Shares of QuantumScape (NYSE: QS), Canoo Holdings (NASDAQ: GOEV), and Blink Charging (NASDAQ: BLNK) were up between 5% and 7% this morning. While each pared those gains as the day progressed, they all were still outpacing the tech-heavy Nasdaq Composite index as of 3:20 p.m. ET. With the Nasdaq negative at that time, QuantumScape remained up 2.6%, and Canoo and Blink were 4.7% and 1.9% higher, respectively.