Why Lordstown Motors' Stock Is Crashing Today
Shares of electric pickup truck start-up Lordstown Motors (NASDAQ: RIDE) were trading down sharply on Thursday morning after Ford Motor Company (NYSE: F) unveiled its all-electric F-150 Lightning.
As of 11:00 a.m. EDT, Lordstown's shares were trading about 12.6% below Wednesday's closing price.
If you're reading this, you probably know that Lordstown is gearing up to start production of its Endurance, a battery-electric pickup truck ostensibly designed around the needs of commercial and government fleet customers. With some backing from General Motors (NYSE: GM), and some promising early interest from fleet buyers, Lordstown looked like it might have a chance of sticking around for a while.
Source Fool.com
