Automotive SPACs try to prove their worth to Wall Street amid bubble


Nikola Corporation rang the Nasdaq Closing Bell remotely from across the world.

Source: The Nasdaq

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 and securities regulators scrutinize their books.

Canoo and Lordstown Motors recently held in-person investor days to tout their technology and new products following executive shake-ups, inquires by the Securities and Exchange Commission and significant declines in shares.

Others have launched advertising or marketing campaigns to attract potential buyers as Wall Street closely watches vehicle reservations, an…


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