Canoo stock price analysts note that Canoo stock price

Analysts note that Canoo stock price movement is closely tied to pre-orders for its Lifestyle Delivery Vehicle, with Q1 2024 revenue guidance potentially revising estimates upward if production targets are met. Its strategic partnerships solidify its market reach and operational capabilities. In 2023, the company entered an agreement with GCC Olayan, a prominent distributor in Saudi Arabia. The partnership grants GCC Olayan exclusive rights to sell, service, and distribute the company’s vehicles in the region and plans to establish a joint venture for local assembly. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #2 (Buy) for Canoo. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Canoo stock price stability in the $2.30–$2.50 range may attract swing traders seeking volatility plays within the electric mobility sector.