Why Sono Group Stock Is Getting Fried Today
Shares of Sono Group (NASDAQ: SEV) are short-circuiting at 11:12 a.m. ET on Friday after the electric vehicle (EV) start-up priced its secondary offering. The follow-on offering will sell up to 10 million shares -- with an additional 1.5 million available for the underwriters at an even greater discount -- so that Sono Group can stay operational until it's able to start producing its Sion EV, a solar-powered car where the panels are integrated into the vehicle's body.