Lordstown motors stock

Lordstown Motors Corp. The firm develops its flagship vehicle, the Endurance, an electric full-size pickup truck.

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Lordstown motors stock

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Founded in , Lordstown has faced a significant amount of hurdles in getting its first product, the Endurance electric truck , to market. Many of which are in a similar situation as Lordstown. Rising interest rates and ongoing supply chain disruptions are hindering growth and contributing to higher-than-expected losses. As a result, investors are fleeing to safer, more predictable assets amid the more challenging economic environment. With stock prices crashing, access to cheap funding is drying up, and with little production, cash is also becoming a concern.

Lordstown motors stock

The original equipment manufacturer of electric vehicles announced that it would effect a reverse stock split of its Class A common stock effective May 24, Lordstown Motors' Class A common stock will begin trading on a split-adjusted basis on the Nasdaq under its existing symbol, "RIDE," when the market opens on May 24, The reverse stock split helps improve the Class A common stock marketability and liquidity. A higher market price can make the Class A common stock more attractive to a broader range of institutional investors, professional investors, and other members of the investing public. In May, Lordstown shared plans to shelve the production of its Endurance electric full-size pickup truck shortly, given the lack of investment and production delays. Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

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