Why Canoo Jumped 15% Today

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Shares of purpose-built electric-vehicle (EV) maker Canoo (NASDAQ: GOEV) spiked 15% Tuesday morning and remained up 12% as of 10:30 a.m. EST. 

Canoo first began trading publicly late last month after merging with a special purpose acquisition company (SPAC). 

After surging prior to the closing of the transaction, shares had been on a steady decline until today. Today’s bounce comes after shares were called a buy by Jim Cramer on CNBC’s Mad Money show last night. 

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