Why EVgo Stock Crashed 27% Today
Portfolio Pulse from
EVgo stock plummeted 27% after announcing a secondary offering of at least 23 million new shares, potentially diluting existing shareholders.
December 17, 2024 | 5:00 pm
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EVgo's stock fell 27% due to the announcement of a secondary offering of at least 23 million new shares, which could dilute existing shareholders' value.
The announcement of a secondary offering typically leads to a decrease in stock price due to potential dilution of existing shares. The significant drop in EVgo's stock price reflects investor concerns about this dilution.
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