Xos Inc is trading 11% down at $4.23 as shares continue to slide below the company's recent $5.50 registered direct offering price, which is pressuring investor sentiment and triggering profit-taking.
- The stock has been extremely volatile this week, experiencing a sharp reversal over the last two sessions following a spike on June 3.
- A broader tech-led market sell-off is likely contributing to the downside momentum during after-hours trading.