Benzinga | Jan 13, 2021 04:09PM EST

Why Canoo's Stock Is Trading Higher Today

Canoo Inc (NASDAQ:GOEV) shares are trading higher Wednesday following a report by The Verge that the company held talks with Apple (NASDAQ:AAPL) in the first half of 2020 about a possible investment or a takeover.

Canoo is a mobility technology company. The company designs and manufactures electric vehicles for both commercial and consumer markets. The product pipeline includes three vehicle programs: Electric delivery vehicles, Lifestyle vehicle, and Sports vehicle.

Canoo shares were trading up 13.64% at $19. The stock has a 52-week high of $22.43 and a 52-week low of $9.21.