Why Lightning eMotors Stock Is Slumping Today
Shares of Lightning eMotors (NYSE: ZEV), a maker of powertrains for electric commercial vehicles, were trading lower on Tuesday after the company reported a second-quarter loss that was wider than Wall Street had expected and withdrew its prior guidance for the full year.
As of 10:45 a.m. EDT, Lightning eMotors' stock was down about 12.2% from Monday's closing price.
Lightning eMotors reported its second-quarter results after the U.S. markets closed on Monday, and it lost more than analysts had expected. The company's net loss was $46.1 million in Q2, or $0.79 per share, on revenue of $5.9 million. Wall Street analysts polled by Thomson Reuters had expected a loss of $0.14 per share on revenue of $5.37 million.
Source Fool.com
