RIDE - Lordstown Motors is higher after GM sells its stake

Lordstown Motors (RIDE +4.1%) was one of the few electric vehicle stocks showing a gain on Tuesday afternoon as investors continue to digest the company's Q4 earnings report and disclosure that General Motors (GM -4.6%) sold its small stake. GM spokesman Jim Cain confirmed that the automaker sold its 7.5M Class A shares as a way to help facilitate the sale of the former GM plant in Northeast Ohio used by Lordstown. On the earnings front, Lordstown's Motors (NASDAQ:RIDE) production is still being analyzed by investors and analysts. RIDE on strategy: "We'll undertake limited production this year, balancing the importance of getting the Endurance into customers’ hands with the need to manage their balance sheet as their bill of material costs at launch will be significantly higher than our anticipated selling price. Our BOM will improve over time as the benefits of our tooling, moving from prototype to production suppliers, the

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Lordstown Motors is higher after GM sells its stake