Vicinity Motor slumps as potential liquidation looms
** U.S.-listed shares of Canadian electric bus and commercial vehicle manufacturerVicinity Motor VEV.O VMC.V plunge as much as 36.5% to an all-time low of 4 cents
** Vicinity Motor gets notice from Royal Bank of Canada regarding intent to file receivership order on Oct 21 after co failed to renew credit agreements with RBC and Export Development Canada (EDC)
** Company expects BC Securities Commission will cease trading the stock, in part due to the failure to file financials
** Brokerage Alliance Global Partners downgrades VEV to "sell" from "neutral" on possible liquidation of company
** "Any recovery for common shareholders is very unlikely and the shares are likely to have no value" — brokerage
** Up to last close, stock had fallen ~91% YTD
Reporting by Neil J Kanatt in Bengaluru
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