Why Shares of Solid Power Are Plunging This Week

With the S&P 500 creeping about 1.1% higher this week, Solid Power's stock (NASDAQ: SLDP) swiftly headed in the other direction. Between a shakeup in the C-suite and a bearish outlook echoing on Wall Street, the pessimism regarding the solid-state battery designer was too overpowering for the bulls to overcome. As of the market's close on Friday, shares of Solid Power plummeted 28.6% since the end of last Friday's trading session, according to data from S&P Global Market Intelligence.