Streetbeat News

RIDE

Lordstown Motors Corp.

Employees

260

Industry

Automobile Manufacturing

lordstown motors corp., an automotive company, develops, manufactures, and sells light duty electric trucks targeted for sale to fleet customers. it primarily develops endurance, an electric full-size pickup truck. lordstown motors corp. was founded in 2019 and is based in lordstown, ohio.

Open

2.04

Mkt cap

26M

Volume

1.3M

High

2.24

P/E Ratio

-0.11

52-wk high

2.24

Low

1.95

Div yield

N/A

52-wk low

1.95

During Wednesday's intraday session, several consumer discretionary stocks saw significant movement. Mullen Automotive (MULN), Cenntro Electric Gr (CENN), Foresight Autonomous (FRSX), WW International (WW), SIGNA Sports United (SSU), and Lordstown Motors (RIDE) all experienced gains, while Connexa Sports Techs (CNXA), BorgWarner (BWA), Traeger (COOK), and Alliance Entertainment (AENT) saw their stocks fall.

Portfolio Pulse from Benzinga Insights

July 05, 2023 | 5:37 pm

Nikola Corp's stock is trading lower following reports of its plans to liquidate the assets of battery maker Romeo Power, which it bought less than a year ago. The company has been struggling with high commodity costs and limited access to capital. Other EV startups, including Arrival and Lordstown Motors, are also facing challenges. In contrast, Tesla has exceeded market expectations for Q2 deliveries.

Portfolio Pulse from Anusuya Lahiri

July 05, 2023 | 11:54 am

During Tuesday's intraday session, several consumer discretionary stocks experienced significant movement. Barnes & Noble Education (BNED), Singing Machine Co (MICS), Rivian Automotive (RIVN), Connexa Sports Techs (CNXA), MGO Global (MGOL), and Volcon (VLCN) saw their shares rise, while ECARX Holdings (ECX), 51 Talk Online Education (COE), Lordstown Motors (RIDE), and Mullen Automotive (MULN) experienced a decrease in their stock prices.

Portfolio Pulse from Benzinga Insights

July 04, 2023 | 5:38 pm

During Monday's intraday session, several consumer discretionary stocks saw significant movement. Barnes & Noble Education (BNED), Singing Machine Co (MICS), Rivian Automotive (RIVN), Connexa Sports Techs (CNXA), MGO Global (MGOL), and Volcon (VLCN) shares rose by 27.8%, 18.69%, 17.79%, 17.64%, 17.04%, and 14.74% respectively. On the other hand, ECARX Holdings (ECX), 51 Talk Online Education (COE), Lordstown Motors (RIDE), and Mullen Automotive (MULN) shares decreased by 16.8%, 8.09%, 7.05%, and 6.69% respectively.

Portfolio Pulse from Benzinga Insights

July 03, 2023 | 5:38 pm

Lordstown Motors Corp (RIDE) has filed for Chapter 11 bankruptcy after a rescue deal with Foxconn (HNHPF) failed. The deal involved Foxconn injecting cash and taking over production for Lordstown Motors. However, a dispute arose over the terms of a reverse stock split, with Foxconn claiming it was entitled to purchase 62.7% of Lordstown's common stock. Lordstown's shares were trading at around $3.70 after the reverse split, making the purchase unappealing for Foxconn. In the bankruptcy case, Lordstown intends to sell its remaining assets and IP, with Foxconn being a potential buyer.

Portfolio Pulse from Anusuya Lahiri

June 30, 2023 | 12:00 pm

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.

Portfolio Pulse from Anan Ashraf

June 30, 2023 | 4:42 am

Analyst Gary Black has expressed concerns about the future of Lucid Group, Nikola Corp., and Workhorse Group, warning that they could face bankruptcy if they don't make necessary changes. This follows Lordstown's recent Chapter 11 filing. Lucid is struggling to sell its $100,000 EV sedans, while Nikola and Workhorse are facing production and liquidity challenges. Despite these concerns, Lucid's stock saw a 5.25% increase at the end of Wednesday's trading session.

Portfolio Pulse from Shanthi Rexaline

June 29, 2023 | 5:59 am

Lordstown Motors Corp. (NASDAQ:RIDE) CEO Ed Hightower's trip to Taiwan to meet with Foxtron, an affiliate of Foxconn Technology Group, ended unsuccessfully. Despite spending three days in isolation due to Covid-19 protocols, Hightower was unable to secure the necessary engineering drawings, data, and licensing agreements from Foxtron. Lordstown Motors filed for bankruptcy after failing to establish a partnership with Foxconn and also sued Foxconn for breach of contract and fraud. Lordstown is currently seeking another automaker to partner with.

Portfolio Pulse from Benzinga Newsbot

June 29, 2023 | 5:14 am

During Wednesday's intraday session, several consumer discretionary stocks experienced significant movements. Gainers included Motorcar Parts of America (MPAA), Xponential Fitness (XPOF), Lulus Fashion Lounge (LVLU), Beazer Homes USA (BZH), Carvana (CVNA), and Arcimoto (FUV). Losers included Kidpik (PIK), Chijet Motor Co (CJET), Lordstown Motors (RIDE), Mullen Automotive (MULN), Greenlane Hldgs (GNLN), and Lifetime Brands (LCUT).

Portfolio Pulse from Benzinga Insights

June 28, 2023 | 5:37 pm

Several stocks are experiencing significant pre-market movements. Theriva Biologics (TOVX) surged 76.4% after receiving Orphan Drug Designation from the FDA for a pancreatic cancer treatment. iMedia Brands (IMBI) gained 55.1% following a second Nasdaq non-compliance notice. National CineMedia (NCMI) rose 12.8% after its reorganization plan was confirmed by the US Bankruptcy Court. Biodexa Pharmaceuticals (BDRX) rose 12.5% after announcing a share ratio change. On the downside, AST SpaceMobile (ASTS) fell 22.6% after pricing an upsized offering of Class A common stock, and Lordstown Motors (RIDE) fell 13.1% after filing for Chapter 11 bankruptcy protection.

Portfolio Pulse from Lisa Levin

June 28, 2023 | 12:04 pm

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