Electric-vehicle startup Canoo's Q4 losses narrow
Shares of Canoo Inc. rose 2% in the extended session Monday after the electric-vehicle startup's quarterly losses narrowed. Canoo reported a net loss of $12.3 million, or 8 cents a share, in the quarter, compared with a net loss of $42.7 million, or 57 cents a share, in the year-ago period. Capital expenditures rose to $6.3 million, compared with $3.9 million a year ago. There were no analyst estimates on per-share loss available on FactSet for Canoo. The stock ended the regular trading day down 5.3%. Canoo went public in December after a reverse merger with a blank-check company.
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