How to Buy Canoo Stock
Canoo Inc
Canoo Inc. , a mobility technology company, designs, engineers, develops, and manufactures electric vehicles for commercial and consumer markets in the United States.
Canoo stock last closed at $2.77, up 2.59% from the previous day, and has decreased 83.83% in one year. It has underperformed other stocks in the Auto Manufacturers industry by 0.18 percentage points. Canoo stock is currently +127.05% from its 52-week low of $1.22, and -85.79% from its 52-week high of $19.50.
There are currently 64.4M GOEV shares outstanding. The market cap of GOEV is $178.38M. In the last 24 hours, 2.24M GOEV shares were traded.
How to Buy Canoo Stock
Wondering how to invest in Canoo stock? Here's how.
- Decide where to buy Canoo stock: You need to decide on a stock brokerage, but don't worry - we've analyzed dozens of online brokerages and apps to help you determine where to buy Canoo stock.
- Open your brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've selected.
- Fund your brokerage account: Select your payment method and add your details.
- Analyze Canoo stock: The Canoo ticker symbol is GOEV. Is Canoo stock a good investment? Should you buy shares of GOEV? How do GOEV's underlying business fundamentals look? Do top analysts think Canoo is a good buy? Why has GOEV's stock price moved recently? (Hint: Our stock market analysis website can help you understand if GOEV is a good stock to buy).
- Make your GOEV buy order: Decide if you will purchase GOEV shares at the current market price or use a limit order to buy GOEV shares at a specific price.
- Keep an eye on your investment in GOEV: Create a watchlist to important updates regarding your investment in Canoo shares.
Step 1: Decide where to buy Canoo stock
You will need a brokerage account to access the NASDAQ market and buy GOEV stock.
Our preferred brokerage: eToro
We believe that eToro is the best place to buy stocks. Here's why:
- Invest in stocks with 0% commissions: Invest without paying trading commissions.
- Buy fractional shares: Even if you don't have the money to buy a full share, you can still purchase the stock.
- Access to world markets: From Tech to Financial Services, New York to London — you can fill your portfolio with stocks from the globe's leading exchanges.
- Social investing: eToro has a community with more than 20 million users around the world. Talk to, learn from, and copy the crypto trades of top investors.
- Security: eToro is a regulated and licensed fintech leader.
- Buy other financial assets: Such as ETFs and cryptocurrencies.
Get $10 towards your stock purchase by creating an account with eToro today.
Open eToro AccountStep 2: Open your brokerage account
Now that you've selected the right brokerage, you need to fill out some personal info so you are able to invest in GOEV today.
How to Set Up a New Investment Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Input your personal data to create your new trading account.
- Send your info by hitting the "Create Account" button. Get started with eToro today
Step 3: Fund your brokerage account
Now that you've opened your account on investing apps, you need to deposit funds:
Watch the walkthrough below if you need help transferring funds into your investment account.
Step 4: Analyze Canoo stock
Once you have identified the best place to buy Canoo stock, it's critical to research their stock prior to investing, so you actually understand the risk and upside.
Canoo shares data
GOEV Fundamentals
WallStreetZen was designed to help part-time investors do better fundamental analysis quickly.
You can view all of the due diligence checks on GOEV's stock page.
Is GOEV stock undervalued?
Investors use many financial metrics, analyses, models, and charts to gauge GOEV's fair value.
Using relative valuations metrics:
- GOEV could be undervalued based on its P/B ratio of 0.71x, relative to Auto Manufacturers industry P/B ratio of 2.14x
You can do additional valuation research on GOEV's stock here.
GOEV Financial Health Overview
Passed Health Checks:
- Total GOEV debt is lower than 5 years ago, relative to shareholder equity.
Failed Health Checks:
- GOEV has $10.30M in cash and short term investments. This is not enough to cover its annual cash burn of $318.20M.
- GOEV has a relatively high debt to equity ratio of 1.17.
- There are more short-term liabilities than short-term assets on the GOEV balance sheet.
- GOEV has cash burn of 318198000. It does not have sufficient cash and short-term investments to cover this.
- There are more long-term liabilities than short-term assets on the GOEV balance sheet.
- GOEV profit margin has gone down from N/A to -34,155.9% in the past year.
Is GOEV stock a Buy, Hold, or Sell, according to Wall Street analysts?
Out of 5 sell side analysts who track GOEV, the consensus analyst rating on GOEV is a Strong Buy
It's important to keep in mind that analyst ratings are not stock recommendations, nor are they investment advice.
You can dig deeper into what analysts are forecasting on the Canoo stock forecast page.
GOEV Technical Indicators
How is GOEV performing as a company?
Last year, GOEV revenue was $886.00k. During the last 3 year, GOEV's revenue has gone up by -86.74% per year. This was slower than the Auto Manufacturers industry average of 36.43%.
Dig into GOEV's earnings and revenue performance here.
Latest Insiders Trades at GOEV
Over the past year, insiders at GOEV have bought more shares than they have sold.
Hector M. Ruiz, GENERAL COUNSEL CORP SECY of GOEV, was the latest GOEV insider to sell. They sold $119.20 worth of GOEV shares on Feb 7, 2024.
Learn more about who owns GOEV shares here.
Can I get consistent income from GOEV stock?
No, Canoo doesn't provide an income stream by paying out dividends.
Get analysis from other investors
One of the biggest reasons eToro is our favorite brokerage is because of its social trading community.
Click below to find out what other community members have to say.
Step 5: Make your GOEV buy order
There are two main types of orders:
- Market order: A market order is an order to buy or sell a stock at the best available price.
Market orders are mostly the best for newer investors. - Limit order: A limit order allows you to buy or sell a stock at a specific price (or better).
If you want to ensure you're buying or selling at a particular price limit, place a limit order.
Press the Open button and your broker will execute your order.
If you need additional help investing in stocks on eToro, watch the helpful video below:
Step 6: Keep an eye on your investment in GOEV
Now that you own some shares in GOEV, you'll want to keep up with your stock purchase.
Add GOEV to a watchlist to track the latest developments regarding your GOEV stock.
GOEV Feed
How to Buy Stock in Canoo
To reiterate, here are the 6 steps for buying Canoo stock:
- Decide where to buy Canoo stock
- Open your brokerage account
- Fund your brokerage account
- Analyze Canoo stock
- Make your GOEV buy order
- Keep an eye on your investment in GOEV
If you require a place to buy stocks, eToro is our recommended option.
Get Started with eToro TodayIf you want to get the latest scoop on your new investment in Canoo, create a watchlist today.
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