Investor report assaults LM, new company's stock takes a big hit | News, Sports, Jobs
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...
Source: morningjournalnews.com