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Canoo (NASDAQ:GOEV) stock is in the news Wednesday after the electric vehicle (EV) company announced a fleet order for Go2 Delivery.

This fleet order starts with Go2 Delivery ordering five of Canoo’s Class 1 Lifestyle Delivery Vehicle 130. The agreement also allows it to order another 85 vans from Canoo if its happy with the first five.

Go2 Delivery will be using the Canoo delivery vans in Virginia and the Chesapeake Bay area. The company handles last mile and other delivery transportation needs with its logistics business. That includes in the retail, healthcare and e-commerce sectors.

How This Affects GOEV Stock Today

Despite news of the delivery orders, shares of GOEV stock aren’t up on Wednesday. Instead, the company’s stock is falling 4.9% as of this writing. This may be a sign that the fleet order failed to impress shareholders.

It’s also worth noting that GOEV stock isn’t seeing much trading activity today. This has only 1.6 million shares traded as of this writing. To put that in perspective, the company’s daily average trading volume is about 4.4 million shares.

Investors on the lookout for even more of the most recent stock market stories today will want to stick around!

We have all of the hottest stock market news that traders need to know about on Wednesday! That includes everything happening with shares of Desktop Metal (NYSE:DM) stock, CureVac (NASDAQ:CVAC) stock and First Foundation (NYSE:FFWM) stock today. All of this news is ready to go at the links below!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2024/07/goev-stock-canoo-receives-fleet-order-from-go2-delivery/.

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