Lightning eMotors stock crashes as revenues disappoint Wall Street, investors cry foul

LOVELAND — It’s been a tough couple of years for Loveland-based zero-emission-vehicle provider Lightning eMotors Inc. (NYSE: ZEV).

Since raising more than $200 million from investors through a merger with a special-purpose acquisition company in May 2021, the company’s stock has zapped off more than 90% of its value — after Lightning eMotors reported its quarterly and 2022 fiscal year results, the stock traded down more than 40% on Monday alone — and faces the prospect of being booted from the New York Stock Exchange. 

Meanwhile, a class-action lawsuit filed late last month in U.S. District Court in Denver accuses…