Why Lordstown Motors Stock Sank Again on Monday
Shares of electric vehicle stock Lordstown Motors (NASDAQ: RIDE) sank on Monday, dropping 9.3% as of 3:15 p.m. EDT.
With yet another rival surfacing, even a massive analyst upgrade failed to convince the market about the electric truck start-up's prospects. Lordstown Motors shares have now tumbled 25.6% in October alone, as of this writing.
Last week, Lordstown Motors announced a partnership with Hon-Hai Precision Industry, better known as Foxconn, to sell its assembly plant in Ohio for $230 million.
Source Fool.com