Investors Should Not Buy Hyliion Stock
Mark R. Hake, 27 October 2020
Hyliion Holdings (NYSE:HYLN) stock has had a difficult launch since it closed its reverse merger with Tortoise Acquisition Corp. Hyliion stock, trading at $22.80 this afternoon, has fallen over 50% since Sept. 28 when it was changing hands for $48. That was the same day that the reverse merger was approved by the shareholders of both companies.
Since Oct. 14, the day that the merger closed and the trading symbol was changed to HYLN, the stock is down nearly 30%. But to be fair, the stock, which previously traded under the symbol SHLL, has risen significantly since the deal was announced on June 19. The stock closed on that day at $14.04
