Posted on 03/24/2021 12:41:43 PM PDT by dynachrome
Ohio has a lot riding on the success of Lordstown Motors.
Last year, Gov. Mike DeWine declared the electric vehicle startup “the future” while visiting the plant, the site of a shuttered General Motors assembly plant near Youngstown, about six months before state officials approved it for $20 million in tax credits.
Secretary of State Frank LaRose last week was the latest in a procession of state officials who, after touring the plant, lauded the company’s promise for the economically beleaguered Youngstown area. JobsOhio, the state’s private economic-development arm, has pledged $4.5 million in grants to the company.
Former President Donald Trump even touted the company’s Endurance electric pickup truck prototype at an event at the White House last year in the heat of the presidential campaign.
But as Lordstown Motors has been gearing up to produce its first vehicles by September, the politicized company has faced mounting questions about its viability. Its stock plunged on March 12 after a prominent investment firm betting against the company’s success released a scathing research report that said the company had “misled investors both on its demand and production capabilities.” That quickly led to an inquiry from the U.S. Securities and Exchange Commission followed by a shareholder lawsuit.
(Excerpt) Read more at cleveland.com ...
You do understand that Hindenburg Research is a short seller, right?
“You do understand that Hindenburg Research is a short seller, right?”
totally ... but i read every word of that report and it was extremely well documented AND Lordstown Motors has yet to refute any of the hundreds of negative facts in the report ...
“That looks pretty bad for any investors. I’ll bet a lot of $$ go missing.”
indeed ... after reading that report, i’m considering shorting that stock (symbol RIDE), assuming there’s any shares left to short:
https://www.nasdaq.com/market-activity/stocks/ride/short-interest
” i’m considering shorting that stock (symbol RIDE), assuming there’s any shares left to short”
Only 8.68% of RIDE float is short:
https://www.marketbeat.com/stocks/NASDAQ/RIDE/short-interest/
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.