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Why Ebang Holdings Stock Plummeted 29.3% in May

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Why Ebang Holdings Stock Plummeted 29.3% in May
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Shares of Ebang Holdings (NASDAQ: EBON) fell 29.3% in May, according to data from S&P Global Market Intelligence. The crypto stock pulled back amid sell-offs for the broader cryptocurrency market. Comments from Tesla CEO Elon Musk suggesting that the electric vehicle (EV) company would no longer accept Bitcoin as payment for vehicles due to environmental concerns kicked off a wave of selling that dragged cryptocurrency prices lower last month.