Why Tritium DCFC Stock Keeps Falling
Last week, in a short series of thrilling stock market sessions, a tiny, all-but-unknown Australian maker of electrical equipment -- Tritium DCFC Limited (NASDAQ: DCFC) -- rocketed to stock market stardom. President Joe Biden appeared to make Tritium the centerpiece of his $7.5 billion plan to build a nationwide network of electric vehicle charging stations, you see. And before you knew it, Tritium stock had exploded 130% higher.
But easy come, easy go. Just two days after its run higher began, Tritium stock lost all its momentum and proceeded to plunge. On Monday, that slump continued, and as of 11:35 a.m. ET, Tritium shares are down another 10.2%.
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