Green Startups Stumble, Accelerating Selloff of Risky Stocks
Electric-vehicle startups and other green tech companies soared early last year. Now a wave of investigations, outside allegations and growing investor skepticism have sent shares down 75% or more for many of them.
Last week, investigations by boards of directors into top executives at two electric-vehicle makers led to management changes. A short seller alleged that a startup lithium producer’s technology doesn’t work. And an agriculture-technology company’s shares fell further after it wrote off most of the value of a recent acquisition.
