Canoo shares hit new lows as it lays off employees to cope with financial crisis

Electric vehicle startup Canoo's stock price recently fell to an all-time low due to the company's decision to temporarily furlough 30 employees at its factory in Oklahoma. The company has suffered significant financial losses in the past two years and is currently streamlining its workforce to cope with the difficulties. Canoo went public through a special purpose acquisition company last year and announced plans to build a vehicle assembly plant in Oklahoma in 2023.