Why Lilium Shares Are Losing Altitude Today

Shares of German aerospace start-up Lilium (NASDAQ: LILM) fell as much as 25% on Monday after the company was the subject of a new short report. Iceberg Research is raising questions about the company's prospects, and investors aren't sticking around to hear the answers. As of 10:46 a.m. ET, shares were down 24.66%.

Lilium is one of a number of young companies developing electric airplanes capable of vertical takeoffs or landings, or eVTOLs, to hit public markets over the past year. There's a lot of excitement around eVTOLs as a green alternative to small-jet flying and as a version of the fabled flying car that could help alleviate traffic jams, but there's also a lot of competition.

Image source: Lilium.

Source Fool.com