Eargo stock plummets to record low as the former hot IPO is now a target of a DOJ criminal probe

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Last Updated: Sept. 23, 2021 astatine 3:24 p.m. ET First Published: Sept. 23, 2021 astatine 3:23 p.m. ET

J.P. Morgan, a pb underwriter of Eargo’s IPO, swings to bearish from bullish connected the proceeding assistance maker, slashes terms people by 75%

Shares of Eargo Inc. mislaid much than two-thirds of their worth connected Thursday, aft the proceeding immunodeficiency shaper disclosed that it was the people of a authorities probe for security fraud.

The quality led J.P. Morgan, which was 1 of the pb underwriters of Eargo’s archetypal nationalist offering past year, to reverse people and urge investors sell.

The...

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