(Reuters) - Shares of XL Fleet Corp, which provides electric drive systems to enhance vehicle fuel economy, fell more than 16% on Wednesday after U.S. short-selling firm Muddy Waters said it has taken a short position in the company’s stock.
XL Fleet did not immediately respond to a request for comment. (bit.ly/3sOwQG6)
The company went public toward the end of 2020 through a merger with a blank check company in a deal that valued it at $1 billion.
XL Fleet provides electrified power-train solutions for U.S. and Canadian commercial fleet vehicles built by companies including Ford Motor Co, General Motors-owned Chevrolet and Isuzu Motors.
Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta
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March 04, 2021 at 02:21AM
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XL Fleet shares drop over 16% after Muddy Waters takes short position - Reuters
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