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Xos

EV truckingUSA
📉 Public < $1B
Peak $2 BillionToday
~-95%
from peak
  1. 🦄
    Became a unicorn
    2021
  2. 📈
    Peak valuation
    $2 Billion ’21
  3. 💔
    Became a Unitard
    2022
  4. 💸
    Last valuation
    ~$100M
Current status
Public sub-$0.1B

How it happened

Xos is an electric commercial-truck maker that went public via SPAC in 2021 at a valuation of about $2B. Production challenges, weak demand, and ongoing losses sent shares plunging, cutting its market cap to under $0.1B (~-95% from peak) and erasing its unicorn status.

Source: De-SPAC 2021