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Li Auto (NASDAQ:LI) broke the support at $21.
Support is a large concentration of buyers gathered around the same price level. Shares often rally after they reach support levels.
This happened each time LI reached $21 in early and in late March, but now this support has been broken. This means the buyers who formed the support have left the market.
Sellers will be forced to accept lower prices, which could cause the decline to continue.
Lordstown Motors Corp (NASDAQ:RIDE) broke support at $11. Shares are now trading below where they were last August when the rally started.
Former support levels can convert into resistance. This happens when buyers who bought the stock at $11 decide to sell.
Home / Top News / HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Lordstown Motors Corp. (RIDE) Investors with Significant Losses to Contact its Attorneys, Securities Fraud Lawsuit Filed and Deadline Approaching
HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Lordstown Motors Corp. (RIDE) Investors with Significant Losses to Contact its Attorneys, Securities Fraud Lawsuit Filed and Deadline Approaching
SAN FRANCISCO, April 19, 2021 (GLOBE NEWSWIRE) Hagens Berman urges Lordstown Motors Corp.
(NASDAQ: RIDE) investors to submit your losses now.
Class Period: Aug. 3, 2020 – Mar. 24, 2021
Lead Plaintiff Deadline: May 17, 2021
Visit: www.hbsslaw.com/cases/RIDE
844-916-0895
RIDE Securities Fraud Class Action:
The complaint alleges defendants misled investors by (i) falsely touting customer pre-orders when they were non-binding agreements, (ii) concealing that many would-be customers lacked the means to
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LOS ANGELES, April 19, 2021 /PRNewswire/ The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Lordstown Motors Corp. ( Lordstown or the Company ) (NASDAQ: RIDE) securities between
August 3, 2020 and March 17, 2021, inclusive (the Class Period ). Lordstown investors have until
May 17, 2021 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
On March 12, 2021, Hindenburg Research published a report alleging that Lordstown has no revenue and no sellable product. Though the Company has consistently pointed to its book of 100,000 pre-orders as proof of deep demand of its proposed EV truck, the report alleged that these orders are largely fictitious and merely formed a marketing relationship with no obligation to purchase products.
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