Canoo is a company that is purportedly developing purpose-built electric vehicles. Canoo’s Chairman, Tony Aquila, previously touted that Canoo would partner with Hyundai to develop such a vehicle. However, on March 29, 2021, The Verge published an article entitled “Canoo’s deal with Hyundai appears dead. The startup . . . also changed its tune on selling EV tech to big companies.” The article continued that “[w]hen pressed” Aquila said “that talk of potential partnerships was presumptuous.” On this news, shares of Canoo stock fell from their March 26, 2021 close of $12.46 per share to a March 30, 2021 close of $9.30, representing a loss of approximately 25% in just two trading days.