Part 6/10:
On a more troubling note, the electric vehicle startup Cano is reportedly on the verge of collapse. Recently, Cano furloughed 82 employees as part of a larger 132-employee reduction over 90 days and has temporarily idled its factory in Oklahoma due to a critical cash shortfall. The company is in negotiations with various capital sources, hoping to recover its workforce soon. Further complicating matters, Cano has announced a reverse stock split to regain compliance with NASDAQ, as its stock price has fallen below the acceptable threshold of one dollar per share.