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3 other times Lordstown Motors disappointed investors


Lordstown withdrew mid-way from a desert race.
Endurance prototype caught fire on its first test drive.
Lordstown Motors (NASDAQ: RIDE) stock sank more than 10% today after the company slashed its production guidance for the year and also said that it needed to raise fresh capital.
Read more about the cut in production guidance here. 
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The company went public last year in a reverse merger with Diamond Peak Holdings Corp., a special purpose acquisition company (SPAC). The business combination valued the company at $1.6 billion and it is currently trading below that valuation. The company received proceeds of $675 million as part of the deal to push through the initial production. In the few weeks following the announcement, shares more than tripled and reached a peak of $31.80 but have remained volatile ever since. The shares closed at $9.67 on Monday and a ....

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