Canoo Inc (NASDAQ:GOEV) stock closed Friday up 4.6% after CEO Tony Aquilla bought over 9 million additional shares of the EV maker. Filings with the SEC showed that on November 9, 2022, Canoo entered into the Subscription Agreement providing for the purchase of an aggregate of 9,009,009 shares of Common Stock at a price of $1.11 per share for an aggregate purchase price of $10.0 million.
A big show of confidence by the CEO has investors feeling better about the electric vehicle start-up.
Canoo (GOEV) is set to buy a vehicle facility in Oklahoma to focus on LDV and LV production. It reported an adjusted loss in Q3 '22, which is narrower than expected but wider year over year.