EVTL - eVTOL player Lilium plunges amid lock-up expiration short report from Iceberg Research

Lilium (NASDAQ:LILM), an electric vertical takeoff and landing company, dropped 25% amid an Iceberg Research new short report. Iceberg Research expresses doubts about Lilium's claims that its vehicle can fly 155 miles and the report estimates the company has about 18 months before the company runs out of cash. The stock was down before the Iceberg Research report came out as Iceberg notes that around 177 million Lilium shares (~68% of the company’s total outstanding shares) worth ~$652m were unlocked for sale on Monday. The 180-day-lock-up period was set to expire after Lilium went public through a de-spac and began trading on Sept. 15. Lilium, which counts Palantir (NYSE:PLTR) and Honeywell (NASDAQ:HON) as investors and partners, is in a race with other aviation startups to deploy battery-powered aircraft that can take off and land vertically, offering a new way for travelers to beat urban traffic and hop between cities. Lilium is part of a growing list

For further details see:

eVTOL player Lilium plunges amid lock-up expiration, short report from Iceberg Research