Electric Vehicle Manufacturer Canoo May Be Taken Off The Nasdaq

Electric vehicle manufacturer Canoo says it may be taken off the NASDAQ stock exchange soon.

Canoo reported that it lost $90 million in the first quarter of the year.

The company says it doesn't expect to hit goals to take advantage of incentives offered by Oklahoma and Arkansas.

NASDAQ companies have to trade at least $1 a share. Currently, Canoo stock is only worth about 60 cents. The last time it closed above $1 was February 8th.