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Lordstown Motors Corp (NASDAQ: RIDE) shares dropped another 18% on Wednesday following a 16.3% drop Tuesday after the company issued a “going concern” warning in its latest quarterly filing.
What Happened? Lordstown went public in October of 2020 after completing a SPAC merger. Roughly eight months later the company has legitimate concerns that it will be able to maintain operations for another year.
In its quarterly filing on Tuesday, which was late, Lordstown said it will need to raise more cash to successfully bring its EV truck Endurance to market.
“These conditions raise substantial doubt regarding our ability to continue as a going concern for a period of at least one year from the date of issuance of these unaudited condensed consolidated financial statements,” Lordstown said in the filing.
MEB den Filistinli çocuklara Benim Oyun Sandığım - Son Dakika Haberleri
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AMC Entertainment Holdings Inc (NYSE: AMC) held on to its weekly gains in early afternoon trading on Friday after a sharp pullback in Thursday’s session.
Heading into next week, AMC traders will be asking themselves if this week’s run-up is a repeat of January trading action in
GameStop Corp. (NYSE: GME), or if the rally in AMC had legs.
Deja Vu? GameStop shares hit their all-time high of $483 on Jan. 28. In the month leading up to that peak, the stock rallied about 1,560%.
This week, AMC hit its all-time high of $72.62. In the month leading up to that peak, AMC shares gained just 523%. However, AMC’s year-to-date gains are now 2,330%, while GameStop’s 2020 gains are just 1,260%.