Electric vehicle SPACs try to prove their worth to Wall Street as shares fall CNBC 15 hrs ago Michael Wayland
Electric vehicle start-ups that went public through SPAC deals over the past year are trying to prove their worth to Wall Street as investors grow increasingly skeptical of their future.
Most deals were initially celebrated by investors, sending shares through the roof but the tides have turned against many of the companies after crackdowns this year by the SEC.
The CNBC SPAC Post Deal Index, which is comprised of the largest SPACs that have come to market and announced a target, has fallen by nearly 10% in 2021.
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