RIDE - Lordstown Motors Corp.
| Previous Close | 3.2200 |
| Open | 3.2400 |
| Bid | 3.1200 x 1800 |
| Ask | 3.1300 x 900 |
| Day's Range | 3.0800 - 3.2699 |
| 52 Week Range | 3.0800 - 55.9500 |
| Volume | |
| Avg. Volume | 426,374 |
| Market Cap | 52.74M |
| Beta (5Y Monthly) | 1.24 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | N/A |
| Earnings Date | N/A |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | N/A |
- WSJ
Fires, Short Sellers and an EV Recall: Inside Lordstown Motors’ Decline
Lordstown Motors was once in the race to build America’s first EV pickup truck. But now – after vehicle fires, short seller reports and recalls – the company has turned to a reverse stock split to try and avoid filing for bankruptcy protection. Illustration: David Fang
- Reuters
UPDATE 3-Lordstown opts for reverse stock split to meet Nasdaq rules, placate Foxconn
Lordstown Motors Corp on Tuesday announced a reverse stock split to meet Nasdaq listing norms and appease investor Foxconn, which has threatened to scrap a crucial $170 million funding for the struggling electric-vehicle maker. The 1:15 split has been scheduled for May 24, the company said, but added there was no assurance that the Foxconn deal will close. Lordstown Motors' shares fell 10% in premarket trading to $0.26, slipping further below the $1 minimum listing requirement of the Nasdaq.
- Reuters
Lordstown opts for reverse stock split to meet Nasdaq rules, placate Foxconn
The 1:15 split has been scheduled for May 24, the company said, but added there was no assurance that the Foxconn deal will close. Lordstown Motors' shares fell 10% in premarket trading to $0.26, slipping further below the $1 minimum listing requirement of the Nasdaq. Foxconn did not immediately respond to a request for comment.
- Bloomberg
Foxconn Says Lordstown Plant Useful No Matter How Dispute Ends
(Bloomberg) -- Foxconn Technology Group will be able to make good use of its electric-vehicle factory in Lordstown, Ohio, no matter how its dispute with Lordstown Motors Corp. is resolved, Chairman Young Liu said.Most Read from BloombergA 32-Year-Old Nears Billionaire Status by Using AI to Broker Japan MergersChicago’s Empty Office Towers Threaten Its Future as a Major Financial HubTurkey Latest: Erdogan Says Unclear If Vote Will Go to RunoffGoogle Billionaire Sergey Brin Gifts $600 Million in S
- Reuters
Cash-strapped Lordstown may tap the brakes on Endurance production
The cash-strapped EV maker had earlier this week said it might be forced to file for bankruptcy, citing uncertainty over a $170 million investment deal with its major shareholder Foxconn. Lordstown, named after the town in Ohio where it is based, said on Thursday it was in talks with the Apple Inc supplier but was yet to reach a deal. In May 2022, Lordstown Motors completed a deal to sell its Ohio factory for $230 million to Foxconn, excluding assets such as the hub motor assembly and battery pack lines.
- Reuters
UPDATE 2-Cash-strapped Lordstown may tap the brakes on Endurance production
Lordstown Motors on Thursday reported a steep fall in its cash reserves and warned it might have to stop making its Endurance electric pickup truck in the near future unless it finds a partner. The cash-strapped EV maker had earlier this week said it might be forced to file for bankruptcy, citing uncertainty over a $170 million investment deal with its major shareholder Foxconn. Lordstown, named after the town in Ohio where it is based, said on Thursday it was in talks with the Apple Inc supplier but was yet to reach a deal.
- Yahoo Finance Video
JPMorgan acquires First Republic, DeSantis-Disney feud escalates, Lordstown Motors' warning
Yahoo Finance Live's Seana Smith breaks down the three top stories from the market day on Monday.
- Yahoo Finance Video
Lordstown Motors Corp. stock plummets following dispute with Foxconn
Yahoo Finance Live discusses a drop in Lordstown Motors Corp. shares following a reported dispute with Foxconn.
- Reuters
UPDATE 1-Lordstown's funding in crisis as investor Foxconn alleges agreement breach
Major shareholder Foxconn is alleging that Lordstown Motors had breached their $170 million investment deal, the EV maker said on Monday, while warning that it might not have enough cash to fund its operations if the agreement falls through. Lordstown, whose shares tumbled 15% in early trading, said Foxconn pointed to the delisting notice that the company received from the Nasdaq in a letter alleging the breach. Foxconn did not immediately respond to a request for comment.
- Reuters
Lordstown shares dive 23% as investor Foxconn alleges agreement breach
(Reuters) -Lordstown Motors warned on Monday it might be forced to file for bankruptcy due to uncertainty over a $170 million investment deal with its major shareholder Foxconn, sending shares of the Ohio-based electric truck maker down 23%. Foxconn struck a deal in November to take a near-20% stake in the money-losing U.S. firm for up to $170 million. It has since invested $52.7 million and is balking at purchasing additional shares, citing a breach of their agreement, Lordstown said.
- Reuters
Lordstown receives letter from Foxconn alleging agreement breach
Lordstown receives letter from Foxconn alleging agreement breach
- Reuters
Lordstown Motors gets Nasdaq delisting notice, explores reverse stock split
The company received the notice because the closing bid price for the electric-truck maker's class A common stock fell below the minimum required price of $1 per share for 30 straight sessions, according to a regulatory filing. Like other EV companies, Lordstown has been plagued with surging costs and supply challenges, and missed the delivery target for its Endurance pickup truck. Lordstown had put in a proposal on April 11 for its annual shareholder meeting, slated for May 22, to get an approval to carry out a reverse stock split of its class A common stock in the ratio ranging from one-for-three to one-for-fifteen.
- Motley Fool
Why Canoo, Nikola, and Lordstown Motors Are Falling Today
Shares of electric vehicle companies Canoo (NASDAQ: GOEV), Nikola (NASDAQ: NKLA), and Lordstown Motors (NASDAQ: RIDE) were tumbling today after an analyst made comments yesterday indicating that price drops for EVs could be the new normal. EV stock investors may also be on edge as the Federal Reserve meets today to decide on how it will proceed with interest rate increases to fight inflation. As a result of all of this news, Canoo's shares were down 6.1%, Nikola had fallen 3.7%, and Lordstown's stock dropped 5.3% as of 11:32 a.m. ET.
- Zacks
EV Roundup: RIDE's Q4 Results, RIVN's $1.3B Green Bond Offering & More
While Lordstown (RIDE) Q4 adjusted loss widens from the year-ago period, Rivian (RIVN) plans to raise $1.3 billion through green bonds sale.
- Motley Fool
Why Lordstown Motors Dropped Again Tuesday
Lordstown Motors (NASDAQ: RIDE) continued a decline Tuesday morning that started after the electric vehicle (EV) start-up reported its fourth-quarter and full-year 2022 earnings yesterday. After dropping nearly 10% Monday, the stock was down as much as another 5% Tuesday morning. It recently announced a recall along with the suspension of production and deliveries due to quality problems.
- Thomson Reuters StreetEvents
Q4 2022 Lordstown Motors Corp Earnings Call
Q4 2022 Lordstown Motors Corp Earnings Call
- Reuters
UPDATE 3-Lordstown Motors loss swells as delivery delays, production costs weigh
Lordstown Motors Corp on Monday posted a bigger quarterly loss, as the electric-vehicle (EV) maker struggled with production costs and missed the delivery target for its Endurance pickup truck, dragging its shares by about 5%. EV companies that went public in the past few years have been battling surging costs and challenges in securing supply of parts to make enough vehicles to meet the sector's burgeoning demand. At the start of commercial production in September, the company had set a target to deliver 50 vehicles in 2022 and more in 2023 out of the planned first batch of 500 units.
- Reuters
Lordstown Motors loss swells as delivery delays, production costs weigh
EV companies that went public in the past few years have been battling surging costs and challenges in securing supply of parts to make enough vehicles to meet the sector's burgeoning demand. At the start of commercial production in September, the company had set a target to deliver 50 vehicles in 2022 and more in 2023 out of the planned first batch of 500 units. However, it suspended production last month due to performance and quality issues with some components and reported sales of only six vehicles.
- Reuters
Lordstown Motors loss widens as higher costs, delivery delays weigh
Lordstown Motors Corp on Monday posted a bigger loss for the fourth quarter, as the electric-vehicle maker struggled with production costs and missed its delivery target for the Endurance pickup truck in the period. In September, when its commercial production commenced, Lordstown had said it aimed to deliver 50 vehicles in 2022 and more in 2023 out of the planned first batch of 500 units. However, it made only 31 units for sale and suspended production of the pickup truck due to performance and quality issues with some components.
- Investing.com
Tesla and Apple rise premarket; Norfolk Southern and Lordstown Motors fall
By Peter Nurse
- Motley Fool
Why Rivian, Lordstown, and Canoo All Dropped Today
Rivian Automotive (NASDAQ: RIVN), Lordstown Motors (NASDAQ: RIDE), and Canoo (NASDAQ: GOEV) were down 7.9%, 14%, and 10.1%, respectively, at 12:05 p.m. ET. While Lordstown released some company-specific bad news, the overall sector was heading lower after early-stage luxury EV maker Lucid Group reported its fourth-quarter and full-year 2022 results last night. Lordstown had even more troubling news than Lucid, though.
- Reuters
Electric-truck maker Lordstown pauses production, deliveries
Lordstown had set a target to deliver 50 vehicles in 2022 and more in 2023 out of the planned first batch of 500 units when commercial production started in September. The company did not make it clear when it would resume production and deliveries.
- Motley Fool
Why Lucid, Lordstown Motors, and Canoo Stocks Dropped Today
The EV price war is heating up -- and electric car stocks are going down. This morning, luxury EV manufacturer Lucid Group (NASDAQ: LCID) announced that for a "limited time" it will give buyers of "select configurations" of its Lucid Air electric sedan a $7,500 EV credit -- so basically a $7,500 price cut on its most expensive Lucid Air Touring and Air Grand Touring models. Shares of rival EV makers Lordstown Motors (NASDAQ: RIDE) and Canoo (NASDAQ: GOEV) are down 2.3% and 3.8%, respectively, as of 1:05 p.m. ET.
- Motley Fool
Why Faraday Future Stock Popped Today, But Lordstown Motors and Nio Dropped
In a bold announcement, start-up Faraday Future (NASDAQ: FFIE) -- which bills itself as not just an electric vehicle (EV) maker but a "global shared intelligent electric mobility ecosystem company" -- announced today that it has secured enough cash to begin production of its long-awaited FF 91 electric SUV. In contrast, rival EV makers Lordstown Motors (NASDAQ: RIDE) and Nio (NYSE: NIO) are down 2.7% and 4%, respectively. With no sales to its name, and consequently no revenue or profits, Faraday isn't in a position to fund its own growth just yet.
