Why Lilium Stock Plummeted by 21% Today

Thursday's news from next-generation aircraft developer Lilium (NASDAQ: LILM) was worrying. On the Germany-based company's admission that it would not be provided a loan guarantee by that country's federal government, investors eagerly sold out of its stock. At the end of the trading day, Lilium's U.S.-listed stock had lost more than 21% of its value.Lilium divulged the news in a regulatory filing with the U.S. Securities and Exchange Commission (SEC). The company said that it "received indication" that the German parliament's budget committee would not approve that guarantee. This was to cover 50 million euros ($54 million) of a 100 million-euro ($109 million) convertible bond issue. The convertible bonds were to be provided by KfW, an investment and development bank owned by the German state.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool