image credit: Trump White House Archived / Flickr
At their highs, five electric vehicle startups that went public through mergers with special purpose acquisition companies were worth $60 billion. The corrections that followed have been brutal.
Three of the companies plumbed new lows this week as short-seller attacks, management turmoil and execution issues lead investors to reconsider their prospects. They have lost more than $40 billion of market capitalization combined from their respective peaks.
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