Why TPG Pace Beneficial Stock Crashed Today

·2-min read
Why TPG Pace Beneficial Stock Crashed Today

Shares of TPG Pace Beneficial Finance (NYSE: TPGY) dropped Tuesday morning after the special purpose acquisition company (SPAC) provided investors with its quarterly financial update. As of 11 a.m. EDT today, TPG shares were down 12.2%. Investors reacted to a filing from the company that brought into question whether its previously announced merger with electric vehicle (EV) charging network company EVBox would still go through.