Lordstown Motors Receives Nasdaq Delisting Notice After Filing For Bankruptcy
Portfolio Pulse from Anan Ashraf
Lordstown Motors Corp (NASDAQ:RIDE) has received a delisting notice from Nasdaq following its filing for bankruptcy protection. The company does not intend to appeal the decision and trading of its class A common stock will be suspended starting July 7. The bankruptcy filing comes after a dispute with Foxconn over a proposed investment of up to $170 million.
June 30, 2023 | 4:42 am
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Lordstown Motors is facing delisting from Nasdaq and suspension of trading following its bankruptcy filing.
The bankruptcy filing and subsequent delisting notice from Nasdaq are significant negative events for Lordstown Motors. This will likely lead to a decrease in the company's stock price in the short term.
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