Why Northern Genesis Acquisition Stock Fell 21.7% in February

Why Northern Genesis Acquisition Stock Fell 21.7% in February

Shares of Northern Genesis Acquisition (NYSE: NGA) slumped 21.7% in February, according to data from S&P Global Market Intelligence. A big pullback for electric vehicle (EV) stocks is pressuring the valuation of the special purpose acquisition company (SPAC). The deal will take the newly formed company public under the Lion banner and see its stock trade on the New York Stock Exchange under the ticker symbol LEV.