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Why XL Fleet Stock Sank 24.3% Last Month

Why XL Fleet Stock Sank 24.3% Last Month

The vehicle electrification company had some good news to announce in the month, but volatility in the overall electric vehicle (EV) space weighed on its stock. While EV leaders including Tesla and NIO posted strong vehicle delivery data in April, stock performance in the space was mixed last month, and some players saw significant sell-offs. There wasn't much in the way of negative, business-specific news to push XL Fleet stock lower last month, but there also wasn't any groundbreaking positive news, and investors appear to be taking a more cautious approach to the EV space in recent months.