VLTA - Hot Stocks: VLTA leadership shakeup; BYND downgrade; STAA FDA approval; SONO rallies
A major C-Suite shakeup has sent shares of EV charging company Volta (NYSE:VLTA) sharply lower in Monday's intraday trading. The stock also suffered an analyst's downgrade. A bearish analyst comment also put pressure on Beyond Meat (BYND), with Piper Sandler raising competition concerns. Looking to the upside, STAAR Surgical (STAA) showed strength on a key regulatory approval. Sonos (SONO) posted gains as well, bolstered by news of an S&P index reshuffling. Decliners Volta (VLTA) lost ground in intraday action, falling in the wake of a major leadership change. The stock also received an analyst's downgrade. VLTA announced that its founder, Scott Mercer, will relinquish his role as CEO. Meanwhile, president and co-founder Chris Wendel has resigned from the company. Following the C-Suite shakeup, DA Davidson cut its rating on VLTA to Neutral from Buy. Shares dropped 19% on the news. Beyond Meat (BYND) also showed midday weakness, falling 4% on
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Hot Stocks: VLTA leadership shakeup; BYND downgrade; STAA FDA approval; SONO rallies