Why Shell's Acquisition of Volta Tanked EV Charging Company Stocks

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The shock—no pun intended—was the pennies-on-the-dollar price that Shell is acquiring Volta, Inc. for,. In an all-cash deal, Shell USA, Inc.—the actual division of Shell that is buying Volta—will snap up all the outstanding shares of Volta common stock for only $0.86 apiece, which works out to a value of only $169 million. That's

, at least at time of publication. The lowish figure sent a major shockwave through Wall Street—because that put Volta's valuation at less than nine percent of its worth just 17 months ago.While you'd expect that this news would affect just Volta and Shell, Wall Street isn't so simple. Just after the Volta news broke, EVgo, ChargePoint, Blink, Wallbox, and even Shell itself saw their stock prices fall.

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ChargePoint shares sink after Shell-Volta acquisition news - San Francisco Business TimesThe low price Shell plans to pay for Volta apparently has investors concerned about its rivals' valuations.
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