RIDEW - Lordstown Motors Drops A Shocker

• The first-quarter earnings shocker raises more questions about the balance sheet and need for capital to boost a thinning liquidity profile.
• Although there have not been any changes to the SoP timeline, volumes were revised substantially lower, at best 50% of prior expectations.
• As SoP nears, with multiple milestones to complete, it increases uncertainty to sequentially reduce operating expenses as the year progresses.

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