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Why Lordstown Motors Stock Jumped on Thursday

·1 min read

Shares of electric vehicle start-up Lordstown Motors (NASDAQ: RIDE) jumped as much as 27.3% in trading early on Thursday after the company reported second-quarter earnings. Management reaffirmed a third-quarter 2022 target for commercial production of the Endurance truck with deliveries beginning in the fourth quarter. Investors were excited about Lordstown moving closer to production and having more cash on the balance sheet, but there are still very real challenges for the company.