RIDE - Lordstown Motors Stock Pops 58%: Buy Hold or Sell Now?
When Lordstown Motors (NASDAQ: RIDE) unveiled its all-electric Endurance pickup truck in mid-2020 with a target production of 20,000 trucks for 2021, it looked set to beat the likes of Ford and Tesla by launching what could have been the first all-electric pickup truck to hit the U.S. roads.
Cut to 2022, and Lordstown Motors is now selling its only plant.
That sounds awful, but given how Lordstown Motors shares had already lost 93% of their value since the beginning of January 2021 through yesterday's market close, the company closing a deal that could prevent it from bankruptcy was bound to send the markets into a tizzy.
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Lordstown Motors Stock Pops 58%: Buy, Hold, or Sell Now?