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RIDE Stock: Why Lordstown Motors Is Crashing and Burning Today

RIDE Stock: Why Lordstown Motors Is Crashing and Burning Today The EV startup will likely make fewer trucks as it needs to raise more money May 25, 2021, 9:28 am EDT May 25, 2021 Lordstown Motors (NASDAQ: Source: Postmodern Studio / Shutterstock.com In a double-whammy, management gutted its production guidance for the year and said it will need to raise additional capital as it “encountered some challenges” to its plan to begin producing its Endurance electric pickup truck in late September. Speaking to investors on a Monday conference call, CEO Steve Burns said that absent any additional funding, the EV maker will likely produce fewer than half of the original 2,200 vehicles he earlier guided.

Lordstown Motors slashes production forecast for its electric pickup – TechCrunch

Lordstown Motors’ cash-rich SPAC dreams have turned out to be nothin’ more than wishes. The automaker reported Monday a disappointing first-quarter earnings that was a pile-up of red-ink-stained negativity. Lowlights include higher-than-expected forecasted expenses, a need to raise more capital and lower-than-anticipated production of its Endurance vehicle this year from around 2,200 vehicles to […]

Lawsuit alleges misrepresentations cost Lordstown Motors investors $1 1B

Lawsuit alleges misrepresentations cost Lordstown Motors investors $1 1B
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