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Special to the Journal LORDSTOWN An investment research firm known for short-selling stocks issued a scathing report on Lordstown Motors Corp., claiming the upstart electric-vehicle company has no sellable product and has misled its investors. Shares of Lordstown Motors stock dropped 16.5 percent Friday to close at $14.78 per share after New York City-based Hindenburg Research the same day released the report characterizing the company as a mirage. Lordstown Motors is operating out of the former General Motors assembly plant in Lordstown. It bought the plant with GM’s help to produce an electric truck, the Endurance, for use by fleets after GM idled the facility in March 2019.

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