Canoo

[Dob Hooligan]

Was just noticing this company that looks like they are bringing back the Scout International, but in an EV Truck and SUV. Scout Motors

I have a feeling these will do better that Canoo!

Attachment 19240

Parent Volkswagen is the second largest car maker in the World, if I read the WSJ story correctly,

[OkieBerto]

Parent Volkswagen is the second largest car maker in the World, if I read the WSJ story correctly,

I believe you are correct. In the Live they did yesterday the CEO welcomes two people from the VW Group.

https://www.youtube.com/live/3RIvPzJ...L75DhTw&t=3338

[MagzOK]

Already furloughing employees.

https://kfor.com/news/local/okc-cano...oliday-season/

[progressiveboy]

Just by reading about Canoo, it does not seem to have a bright future in OKC. I do not understand why Gov Stitt gave them all the incentives when he knew that this company was not very fiscally sound. Our governor seems to make stupid decisions and is going to hurt this State in the long run.

[Pete]

All the incentives are based on job-creation and we won't owe them anything unless they meet certain thresholds.

[bison34]

Just by reading about Canoo, it does not seem to have a bright future in OKC. I do not understand why Gov Stitt gave them all the incentives when he knew that this company was not very fiscally sound. Our governor seems to make stupid decisions and is going to hurt this State in the long run.

You only post the wins for Texas. They have promised tons to companies that haven't done anything in Texas. These happen in all 50 states. We just focus on the state more.

Like Pete said, these aren't guaranteed incentives. OK does a lot with jobs-based. Texas doesn't. They guarantee a lot. Hence why jobs #s in Texas, compared to what companies promise when they move there, are significantly lacking.

[progressiveboy]

You only post the wins for Texas. They have promised tons to companies that haven't done anything in Texas. These happen in all 50 states. We just focus on the state more.

Like Pete said, these aren't guaranteed incentives. OK does a lot with jobs-based. Texas doesn't. They guarantee a lot. Hence why jobs #s in Texas, compared to what companies promise when they move there, are significantly lacking.

I would love to post the wins for Oklahoma, however it has been crickets for way to long, lol. You have to be able to see that Oklahoma has not had a major corporate relocation in forever!

[bison34]

I would love to post the wins for Oklahoma, however it has been crickets for way to long, lol. You have to be able to see that Oklahoma has not had a major corporate relocation in forever!

You're right. But what can Oklahoma do in the short term? There isn't much they can do. Even being the most liberal state in America wouldn't help, because Abbott is even worse than Stitt. They just have too much money to guarantee to companies down there, regardless of jobs created.

[FighttheGoodFight]

Invest in training and education. We need people with skills here to draw jobs.

[Anonymous.]

Down almost 30% today. -60% for the last couple weeks.

Cooked.

[shavethewhales]

Canoo is toast. The wheels have truly come off now.

As for our next chances of landing a new major employer, we will have to be patient for the next cycle to start up. I work in development myself, and things have certainly slowed down a bit in the run-up to the election. We're just trying to sit pretty till the new year when things will be more certain - one way or the other. OK, especially NE OK, is still an attractive place for major manufacturing, but all the cards have to line up right. It's worth mentioning that the huge Enel solar plant that seemed like a sure thing has now been put on indefinite hold. Of course, Enel just got slammed with a huge fine in Osage county and told to take down their wind farm, so that might have soured them on Oklahoma...

[Rover]

I would love to post the wins for Oklahoma, however it has been crickets for way to long, lol. You have to be able to see that Oklahoma has not had a major corporate relocation in forever!

Count the Colleges and Universities in the Dallas/FW area and all the graduates they produce that are highly prepared to support relocated companies. Count the skilled workers in DFW.

Now count those in OKC.

National companies looking to locate other than low skilled jobs look at an area's ability to support with educated and skilled work force. They also look at where their execs and key personnel would like to move. OKC has a better image than before, but still does not enjoy the same status as DFW, Austin, Houston or SA.

Years ago I read a preface to a book on strategy that noted that no army in history that was outnumbered 2 to 1 ever won a war, and rarely won a battle. It takes special strategies to identify niche parts which can be attacked and won, and then grown. It takes a long term, patient, consistent strategy from leadership. My opinion is we don't have great leadership in OK and what we have doesn't have the skills, discipline, intelligence or patience to win. It isn't that we have an enhanced desire for culture wars here, it is that our focus on that prevents us from also focusing on the economic and social development it takes to win at a national, international, and maybe not even regional competition. We do not have commitment to educational development and will remain undereducated and underprepared to compete. We can offer all the immediate incentives we can and still not compete if we do not focus on the right industries and right companies, and to understand where we have chances and don't. We need to shoot for the moon before we shoot for the stars.

[Anonymous.]

Down almost 30% today. -60% for the last couple weeks.

Cooked.

+80% this week off the all time lows.

[Just_Curious]

+80% this week off the all time lows.

That is fantastic news for anyone with a cost basis below that price. Which would mean they threw money at this within the past several months. As I have said earlier in this discussion or elsewhere. Either sell it now and take your loss. Or wait until 2025 bankruptcy and take the loss then. Really just a matter of timing preference. Canoo, both the stock and the company, are toast.

[BridgeBurner]

Stock down 21% today

[jedicurt]

we are getting another reverse split soon, they were informed they had till i think June 1 to meet the $1.00 for ten consecutive days or be delisted

[Jeremy Martin]

My 1000 shares will be 3 soon.

[Paule4ou]

JUSTIN, Texas, Dec. 18, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (Nasdaq: GOEV), a high-tech advanced mobility company today announced the company has furloughed 82 employees, both salaried and hourly, and idling its factories in Oklahoma while it works to finalize securing the capital necessary to move forward with its operations.

The company is in advanced discussions with various capital sources.

Canoo said, “We regret having to furlough our employees, especially during the holidays, but we have no choice at this point. We are hopeful that we will be able to bring them back to work soon.”

[Jeepnokc]

Put the nail in it so we can take the loss on this year's taxes

[Just_Curious]

Put the nail in it so we can take the loss on this year's taxes

Turns out you have full control over when you take that loss. Along with any other security you're currently holding in a loss position.

[jn1780]

JUSTIN, Texas, Dec. 18, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (Nasdaq: GOEV), a high-tech advanced mobility company today announced the company has furloughed 82 employees, both salaried and hourly, and idling its factories in Oklahoma while it works to make a last minute attempt to beg for the capital necessary to move forward with its operations.

The company is in advanced discussions with various capital sources.

Canoo said, “We regret having to furlough our employees, especially during the holidays, but we have no choice at this point. We are hopeful that we will be able to bring them back to work soon.”

Fixed.

[Pete]

Their plan had to have been to get someone to buy them out but the problem is that EV sales have cooled in the U.S. and the big manufacturers are now pivoting towards hybrids as a middle ground until more buyers are willing to make the full jump into electric.

And has been pointed out many times, all the big automakers are fully into EVs including delivery vans, so why would any purchasing manager take a flier on a company that has done nothing but struggle?

[Pete]

Former Canoo employee told KFOR that the OKC plant never manufactured a single vehicle and that the only time the robotic machinery was used was for showing off to media or investors.

Also, most of the jobs reported to be moving to Oklahoma never happened.

Yet another scam perpetrated on OKC.

https://kfor.com/news/local/former-e...d-to-oklahoma/

[Jake]

Classic Oklahoma.

[Pete]

The State will no doubt try to claw back some of the money it gave Canoo, but good luck.

There are already lawsuits filed for collection and you can be sure many more are to come.


As far as I can tell, even though $110 million was pledged to Canoo, only $1 million from the state has been paid to date.