Why Hyzon Motors Stock Plunged Early Today
Hyzon Motors (NASDAQ: HYZN) stock sank 14.1% within minutes of the market's opening before regaining some ground.
The company released its fourth-quarter and full-year 2021 numbers this morning, and they appeared dismal at first blush, which explains the market's knee-jerk reaction. Shares of the fuel-cell electric truck manufacturer, however, bounced back as investors made note of other important information from the company's earnings report. By 10:45 a.m. ET, Hyzon stock was down just about 2.5%.
Earlier this year, Hyzon said it expected 2021 revenue and margins to be "materially lower than forecast" because of low average selling price due to its product mix.
Source Fool.com
