Why Shares of Volta Are Plummeting Today
After tumbling more than 8% last week, shares of Volta (NYSE: VLTA), a specialist in electric-vehicle (EV) charging, are extending their slide Monday morning. Two factors are charging up bears' pessimism today, leading them to leave their positions: changes coming to the company's C-suite and an analyst's dour outlook on the stock.
As of 10:56 a.m. ET today, Volta's stock had fallen 14.7%.
Volta announced today that the company's founder, Scott Mercer, will be stepping down as CEO after a transitional period; however, he isn't completely walking away from the company. In addition to assisting in Volta's search for a new CEO, Mercer will act as an advisor to the board of directors through March 31, 2023.
Source Fool.com
