Why Lordstown Motors Stock Is Higher Today
Shares of Lordstown Motors (NASDAQ: RIDE) were trading higher on Monday after the company released a business update and confirmed that it's on track to begin production of its electric pickup truck in September of 2021.
As of 1:45 p.m. EST, Lordstown's shares were up about 10.2% from Friday's closing price.
Lordstown went public just a few weeks ago, in late October, after completing a merger with a special-purpose acquisition company. The company plans to begin regular quarterly earnings reports after the current quarter ends, but in lieu of a third-quarter report it provided an update on the state of its business.
Source Fool.com
