Electric pickup truck startup Lordstown Motors Corp. (NASDAQ: RIDE) might not survive the year unless it raises more money, the company said Tuesday, declaring it is in danger of remaining a “going concern.”
After a recent runup in its stock price on the fringe of a meme stock rally, Lordstown shares plummeted 16.2% in late trading Tuesday following the disclosure of amendments to its annual report filed with the Securities and Exchange Commission (SEC).
Since going public in a business...
https://www.freightwaves.com/news/lightning-strike-lordstown-motors-might-not-survive-the-year