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Investors flee Lordstown again on thin Endurance forecast

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KMIZ

By MATT OTT
AP Business Writer

SILVER SPRING, Md. (AP) — Shares in Lordstown Motors has taken another beating after the troubled electric truck maker revealed an underwhelming forecast for truck deliveries — one that would depend on raising more money and finalizing an partnership agreement with the manufacturer Foxconn. Lordstown stock, which traded above $30 per share just a year ago, skidded 20% Monday to $2.57 per share after the company said it expected to produce just 3,000 of its flagship electric trucks, Endurance, before the end of 2023. That’s a paltry figure for a company that has to compete with giants like General Motors and Ford, as well as startups flush with cash. 

Article Topic Follows: AP National Business

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