Why EVgo Stock Crashed 27% Today

EVGo (EVGO -27.56%) stock tumbled 27% through 10:05 a.m. ET Tuesday after the operator of charging stations for electric vehicles announced last night that EVgo Holdings, LLC, will sell at least 23 million new shares of common stock (and perhaps as many as 26.5 million) in a secondary offering. (We further learned this morning that the shares will be priced at $5 each). And here's the most important bit of news: EVgo Holdings and EVgo are not the same thing.Insider salesTo its credit, EVgo made this clear i ...