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.

Image source: Getty Images.

Source Fool.com