Why Lordstown Motors Stock Is Down Today
Shares of embattled electric-pickup start-up Lordstown Motors (NASDAQ: RIDE) were trading lower on Friday after a Wall Street analyst drastically cut his bank's price target for the stock following the company's earnings report on Wednesday.
As of 12:30 p.m. EDT, Lordstown's shares were down about 9.2%.
In a new note released on Thursday, RBC Capital analyst Joseph Spak cut his bank's price target from a pessimistic $5 to a dismal $1 while maintaining an underperform rating on the shares.
Source Fool.com
