Why Hyliion Holdings Stock Is Sinking Today
Shares of power-generation start-up Hyliion Holdings (NYSEMKT: HYLN) were trading sharply lower on Wednesday after the company cut its guidance for full-year revenue. As of 11:30 a.m. ET today, Hyliion's shares were down about 13.5% from Tuesday's closing price.
Originally founded to build hybrid-electric systems for heavy trucks, Hyliion is now working to bring a multifuel electric generator to market.
The generator, called Karno, uses what is called a "flameless oxidation" system. Hyliion says the device can generate electricity from a wide range of fuels -- natural gas, hydrogen, various petroleum derivatives, and even ammonia -- with minimal emissions.
Source Fool.com
