Why Lordstown Motors Stock Is Sinking Today
Shares of embattled electric truck start-up Lordstown Motors (NASDAQ: RIDE) opened sharply lower on Tuesday, after a prominent Wall Street analyst cut his bank's rating on the stock.
As of 10 a.m. EDT, Lordstown's shares were down about 8.1% from Monday's closing price.
In a note released after the U.S. markets closed on Monday, Morgan Stanley auto analyst Adam Jonas cut the bank's rating on Lordstown to underweight, from equal weight, and lowered its price target for the shares to $2 from $8.
Source Fool.com