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Why EVgo Stock Plunged This Week
EVGOEVgo (EVGO) The Motley Fool·2024-12-20 14:29

Shares of electric vehicle (EV) charging company EVgo (EVGO -4.04%) fell as much as 30.4% in trading this week, according to data provided by S&P Global Market Intelligence, after an insider sold 23 million shares for 5apiece.ThebigsaleLSPower,whichwasEVgo′slargestshareholder,announcedanunderwrittensaleof23millionsharesonMonday.Thesalewasmadeat5 apiece.The big saleLS Power, which was EVgo's largest shareholder, announced an underwritten sale of 23 million shares on Monday. The sale was made at 5 per share with 4.8125goingtothesellerand4.8125 going to the seller and 0.1875 going to investment banks underwriting the deal. In a sale like this, the investme ...