Why Lordstown Motors Stock Charged Higher in January
Shares of electric truck maker Lordstown Motors (NASDAQ: RIDE) climbed 25.5% in January, according to data provided by S&P Global Market Intelligence, following the company's announcement that it has more than 100,000 reservations for its Endurance electric pickup. That's a big boost for the start-up automaker, which hopes to begin production of the Endurance this fall.
Lordstown Motors emerged out of a former General Motors factory in Ohio, and it counts GM as both an investor and a provider of technical assistance. The company designed the Endurance to fit the needs of commercial and government fleet operators, and appears to have a product that intrigues its intended audience.
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Source Fool.com
