/PRNewswire/ Lordstown Motors Corp. (Nasdaq: RIDE), ("Lordstown Motors" or "LMC"), an original equipment manufacturer (OEM) of electric light duty trucks.
Electric truck startup Lordstown Motors Corp.’s shares sank as much as 19% after it pushed back a deadline to complete the sale of its Ohio assembly plant to Foxconn.
From Bloomberg: Electric truck startup Lordstown Motors Corp.'s shares sank Monday, May 9, as much as 19% after it pushed back a deadline to complete the sale of its Ohio assembly plant to Taiwan's Hon Hai Precision Industry Co. Ltd., also known as Foxconn.
Lordstown Motors has gone from the savior of Ohio to just another blowhard electric vehicle startup. Last year, it became the focus of investment research firm Hindenburg Research and an incredibly damning report that accused the company of fraudulent behavior. The paper cited thousands of non-binding, no-deposit orders and was proven right a few months later […]