It's been a rough time in the stock market over the past year and even good companies with lots of long-term potential experienced massive share price sell-offs right alongside not-so-great companies. You wouldn't know Carvana's business is stuck grinding its gears by looking at the company's 72% year-to-date share price rise.
Shares of electric vehicle companies Canoo (NASDAQ: GOEV), Nikola (NASDAQ: NKLA), and Lordstown Motors (NASDAQ: RIDE) were tumbling today after an analyst made comments yesterday indicating that price drops for EVs could be the new normal. EV stock investors may also be on edge as the Federal Reserve meets today to decide on how it will proceed with interest rate increases to fight inflation. As a result of all of this news, Canoo's shares were down 6.1%, Nikola had fallen 3.7%, and Lordstown's stock dropped 5.3% as of 11:32 a.m. ET.
Canoo (Nasdaq: GOEV), a high-tech advanced mobility company, today announced that it will report its financial results for the quarter and full year ended December 31, 2022 after market close on Thursday, March 30, 2023. The Company will host a conference call and live webcast at 5:00 pm ET to discuss the results, followed by a question-and-answer period.