Why EVgo Stock Tanked on Monday

·2-min read
Why EVgo Stock Tanked on Monday

Shares of EVgo (NASDAQ: EVGO) have tanked today, down by 15% as of 2 p.m. EDT, after the company made a regulatory filing to register millions of shares to be issued in connection to the exercise of warrants. The filing comes about a month after the electric vehicle (EV) charging network closed its merger with a special-purpose acquisition company (SPAC). EVgo has registered up to 18.1 million new shares that are issuable upon the exercise of public warrants.

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