Lordstown Motors

Lordstown Motors Corp. is an automotive company, which engages in the design and manufacture of light duty electric trucks targeted for sale to fleet customers. The firm develops its flagship vehicle, the Endurance, an electric full-size pickup truck. The company was founded by Stephen S. Burns on November 13, 2018 and is headquartered in Lordstown, OH.

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Nu Ride, Inc. is an automotive company, which engages in the design and manufacture of light duty electric trucks targeted for sale to fleet customers. The firm develops its flagship vehicle, the Endurance, an electric full-size pickup truck. The company was founded on November 13, 2018 and is headquartered in New York, NY.

Electric vehicle startup Lordstown Motors Corp said on Tuesday that it will effect a 1:15 reverse stock split on May 24.

Lordstown Motors announces reverse stock split

Shares of Lordstown Motors Corp. RIDE, +9.25% tumbled 13.0% toward a record low in premarket trading Tuesday, after the electric vehicle maker declared a 1-for-15 reverse stock split. The split will be effective May 24.

Lordstown stock drops toward record low after declaring 1-for-15 reverse stock split

LORDSTOWN, Ohio, May 23, 2023 (GLOBE NEWSWIRE) -- Lordstown Motors Corp. (Nasdaq: RIDE), (“Lordstown Motors,” “LMC” or the “Company”), an original equipment manufacturer (“OEM”) of electric vehicles focused on the commercial fleet market, today announced that it will effect a 1:15 reverse stock split (the “Reverse Stock Split”) of its Class A common stock, $0.0001 par value per share (the “Class A common stock”), that will become effective at 12:01 a.m. Eastern Time on May 24, 2023 (the “Effective Time”). Lordstown Motors' Class A common stock will begin trading on a split-adjusted basis on the Nasdaq Global Select Market (“Nasdaq”), under its existing symbol, “RIDE”, when the market opens on May 24, 2023. The new CUSIP number for the Company's Class A common stock will now be 54405Q 209.

Lordstown Motors Corp. Announces Reverse Stock Split

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Lordstown Motors (NASDAQ: RIDE) stock price plunged to the lowest level on record as bets that the company could go bankrupt jumped. RIDE shares dropped to an all-time low of $0.2533, which was much lower than its all-time high of ~32.

Lordstown Motors stock: RIDE could crash to zero soon

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Lordstown Motors (NASDAQ: RIDE ), a deeply embattled electric vehicle manufacturer, expects to end production of its Endurance pickup truck “in the near future,” according to a startling report by CNBC. Running out of cash and seeking additional capital, Lordstown suffered a hit due to a conflict with contract manufacturer Hon Hai Precision Industry (OTCMKTS: HNHPF ), which also operates under the name Foxconn.

RIDE Stock Alert: Lordstown Motors Likely to Halt Production of Endurance Truck

Beleaguered EV company Lordstown Motors seemed to have found a financial savior in Foxconn, the Taiwanese manufacturer best known for making iPhones for Apple. But now, with that relationship faltering, it appears the the road is ending for Lordstown's Endurance EV truck and maybe even the company.

Lordstown Motors' Endurance EV pickup truck is dying

The comments come three days after the company said it may go bankrupt if a previously announced deal with contract manufacturer Foxconn falls through.

Struggling Lordstown Motors expects to end production of its EV pickup 'in the near future'

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Shares of electric truck maker Lordstown Motors dropped more than 40% in Monday trading and ended the day down 23%, after the company disclosed that Foxconn, its major investor and the company that is helping to build its trucks, said it wants to back out of making further investments.

Lordstown Motors stock plunges after dispute with investor Foxconn

Shares of electric vehicle (EV) manufacturer Lordstown Motors (NASDAQ: RIDE ) went into freefall on Monday following the potential loss of a critical investment deal. Foxconn Technology — also known as Hon Hai Precision Industry (OTCMKTS: HNHPF ) — threatened to pull out of a funding agreement, citing a breach of contract.

RIDE Stock Alert: Why Lordstown Motors Just Hit a New Low

Lordstown Motors is at risk of failing — again. The EV startup that went public via a SPAC merger cautioned investors Monday that it may be forced to file for bankruptcy because Foxconn may pull out of a critical funding deal, according to a regulatory filing.

Lordstown savior Foxconn is threatening to pull funding

Strategic partner Foxconn's move to terminate last year's investment agreement is dealing another blow to the ailing company. But even if Lordstown Motors somehow manages to resolve the Foxconn dispute, liquidity and currently available funding sources appear to remain insufficient to execute on its business plan.

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Electric vehicle producer Lordstown Motors Corp (NASDAQ:RIDE) may file for bankruptcy and shut down operations after Foxconn Technology told the startup it may abandon a production partnership  The Taiwanese manufacturing company has threatened to withhold funding, according to a security filing Monday, which could drive Ohio-based Lordstown into insolvency. As a result, the company is seeking alternative financing.

Lordstown Motors shares stall after Foxconn threatens to pull out of $170M investment

Lordstown Motors Corp. RIDE shares fell 29% Monday after the EV maker said in a filing that Taiwanese electronics contract maker Foxconn wants to end their deal and warned that without that it will be “deprived of critical funding necessary for its operations.” Lordstown and Foxconn, also known as Hon Hai Technology Group, announced the deal in 2021 and in May 2022 Foxconn bought Lordstown's factory.

Lordstown Motors stock down 29% after Foxconn threatens to pull out of deal, auto maker warns of bankruptcy

After buying Lordstown's factory last year, Foxconn agreed to invest an additional $170 million. That deal is now in jeopardy, the embattled startup said.

Lordstown Motors warns of bankruptcy after Foxconn threatens to walk away from crucial funding deal

Lordstown Motors shares plunged 48% Monday after major shareholder Foxconn alleged it breached their $170 million investment deal and the electric truck maker warned it might be forced to file for bankruptcy.

Lordstown shares plunge 48% as investor Foxconn alleges agreement breach

Investors in the struggling electric vehicle manufacturer, Lordstown Motors, were hoping for a reversal of fortune, but unfortunately, it appears the company is headed for bankruptcy.

Lordstown Motors Gets Hammered

Amid another soft backdrop on Wall Street, electric vehicle upstart Lordstown Motors (NASDAQ: RIDE ) continues to generate headlines for dubious reasons. According to Reuters, Lordstown stated on Thursday that it received a delisting notice from Nasdaq.

RIDE Stock Alert: Is a Reverse Stock Split on the Way for Lordstown Motors?

Shares of Lordstown Motors Corp. RIDE, +2.00% rose 0.1% in premarket trading Tuesday, after the manufacturer of light-duty electric vehicles said production and deliveries resumed in April. The company had said in February that it halted production of deliveries as it deals with performance and quality issues with some Endurance components, as it recalled some Endurance electric trucks to address an electrical connection issue.

News for Lordstown Motors Stock (RIDE)