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

U.S. stocks traded higher with the Nasdaq Composite gaining over 200 points. TD Synnex Corp reported worse-than-expected Q2 results and issued Q3 guidance below estimates. Centogene N.V., Black Diamond Therapeutics, and Tivic Health Systems saw their shares rise due to various positive developments. Lordstown Motors Corp filed for Chapter 11 bankruptcy, Adicet Bio shared disappointing data from its Phase 1 study, and Siyata Mobile priced a 50 million share offering, leading to a drop in their shares.

Portfolio Pulse from Lisa Levin

June 27, 2023 | 7:04 pm

Several stocks experienced significant movement in Tuesday's mid-day session. Notable gainers included Tivic Health Systems, Black Diamond Therapeutics, and Centogene, which saw increases due to distribution agreements, promising clinical data, and joint ventures respectively. On the other hand, Adicet Bio, Siyata Mobile, and Lordstown Motors Corp were among the biggest losers, with drops due to disappointing clinical data, share offerings, and bankruptcy filings respectively. Walgreens Boots Alliance also saw a decrease after lowering its FY23 guidance.

Portfolio Pulse from Lisa Levin

June 27, 2023 | 5:56 pm

During Tuesday's intraday session, several consumer discretionary stocks experienced significant movement. Gainers included Xcel Brands (XELB), Aterian (ATER), Cooper-Standard Holdings (CPS), Carvana (CVNA), NIO (NIO), and RumbleON (RMBL). Losers included Xponential Fitness (XPOF), Lordstown Motors (RIDE), Mullen Automotive (MULN), Greenlane Hldgs (GNLN), ECARX Holdings (ECX), and GreenTree Hospitality Gr (GHG).

Portfolio Pulse from Benzinga Insights

June 27, 2023 | 5:37 pm

US stocks traded higher with the Dow Jones gaining over 100 points. Walgreens Boots Alliance Inc reported weaker-than-expected earnings for its third quarter and lowered its FY23 adjusted EPS guidance. Centogene N.V., Black Diamond Therapeutics, Inc., and Tivic Health Systems, Inc. saw their shares rise significantly. Lordstown Motors Corp filed for Chapter 11 bankruptcy protection, while Adicet Bio, Inc. and Siyata Mobile Inc. saw their shares drop.

Portfolio Pulse from Lisa Levin

June 27, 2023 | 5:04 pm

US stocks traded higher with the Nasdaq Composite gaining around 75 points on Tuesday. Durable goods orders rose 1.7% MoM in May, beating market estimates of a 1% drop. American Equity Investment Life Holding Company received a $55 per share acquisition proposal from Brookfield Reinsurance, while Cara Therapeutics was granted a US patent for oral formulations of kappa opioid receptor agonists.

Portfolio Pulse from Lisa Levin

June 27, 2023 | 1:45 pm

Lordstown Motors Corp. shares have resumed trading after a temporary halt.

Portfolio Pulse from Happy Mohamed

June 27, 2023 | 1:37 pm

Lordstown Motors Corp. shares were halted on a circuit breaker to the upside, but the stock is now down 45.4%.

Portfolio Pulse from Happy Mohamed

June 27, 2023 | 1:33 pm

Baidu claims its Ernie Bot outperforms OpenAI's ChatGPT; Meta's WhatsApp Business app reaches 200 million users; Walgreens reports disappointing Q3 earnings. Ford plans layoffs in its engineering sections in the US and Canada. Robinhood cuts 7% of its full-time staff due to reduced customer engagement. General Dynamics and American Rheinmetall compete for a $45B US Army vehicle contract. Virgin Galactic announces the date for its first commercial spaceflight.

Portfolio Pulse from Vandana Singh

June 27, 2023 | 1:27 pm

Rivian Automotive (RIVN) continues to grow with plans to reveal a new lower-priced R2 midsized SUV Crossover EV next year, while Lordstown Motors (RIDE) has filed for bankruptcy and is suing former partner Foxconn. Rivian's production is expected to increase, with a 2026 production forecast of 200,000 units for the new R2 model. In contrast, Lordstown's story has ended due to unmet expectations and a failed partnership.

Portfolio Pulse from Upwallstreet

June 27, 2023 | 1:05 pm

Lordstown Motors Corp (NYSE:RIDE) filed for Chapter 11 bankruptcy protection and initiated a strategic restructuring process to maximize asset value. The company is also commencing a sale process for its Endurance vehicle and filed litigation against Hon Hai Technology Group and Foxconn, alleging fraud, bad faith, and contractual breaches.

Portfolio Pulse from Adam Eckert

June 27, 2023 | 12:45 pm

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