Why Lilium (LILM) Stock Is Getting Hammered
Portfolio Pulse from Henry Khederian
Lilium NV (NASDAQ:LILM) shares plummeted by 38% to 13 cents after announcing insolvency proceedings for its German subsidiaries due to a failed government-backed loan. The company aims to restructure under court supervision while continuing operations.
October 25, 2024 | 5:23 pm
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Lilium NV's stock fell 38% after announcing insolvency proceedings for its German subsidiaries due to a failed government-backed loan. The company aims to restructure under court supervision.
The insolvency proceedings indicate severe financial distress, leading to a significant drop in stock price. The failure to secure a critical loan and the need for restructuring under court supervision are negative signals for investors.
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