Why Shares of GreenPower Motor, CIIG Merger, and Blink Charging Are Down Today
The stocks of three niche electric-vehicle (EV) companies are dropping sharply today. As of 10:35 a.m. EST, shares of GreenPower Motors (NASDAQ: GP) are down 14%. Shares of CIIG Merger (NASDAQ: CIIC), a special-purpose acquisition company (SPAC) that is merging with U.K.-based van and bus EV company Arrival, are down 10%, while those of Blink Charging (NASDAQ: BLNK) are down 11%.
While there is no new company-specific news today on any of these, there have been some related announcements in the EV sector today. And the stocks of each is still up significantly for the month of November.
The EV sector took a hit this morning when aspiring electric-truck maker Nikola (NASDAQ: NKLA) announced it has revised its previously announced deal with General Motors (NYSE: GM) and is abandoning its Badger pickup truck project.
Source Fool.com
