HCAC - Why Shares in 1 EV Company Dropped 10% Today While Others Soared
Shares of RMG Acquisition (NYSE: RMG) and Tuscan Holdings (NASDAQ: THCB) -- two special purpose acquisition companies (SPACs) that are merging with electric-vehicle (EV) battery makers -- continued a recent surge today, up 4% and 20%, respectively, as of 1:25 p.m. EST.
Shares of another EV SPAC, Hennessy Capital (NASDAQ: HCAC) , were also moving higher, up 10%. But shares of GreenPower Motor (NASDAQ: GP) an EV company that has been on the decline, were down another 10% after a short-seller report said the stock should be down 90% based on its research.
Image source: Getty Images.
For further details see:
Why Shares in 1 EV Company Dropped 10% Today, While Others Soared