Electric vehicle maker Lordstown Motors (RIDE) is looking to raise money to finance its operations, according to a Reuters report citing the company’s executive chairwoman, Angela Strand. Lordstown stock fell 5.45% on Monday to close at $10.07. Lordstown is focused on manufacturing electric trucks and has an assembly plant at a former General Motors factory in Ohio. But the company faces a funding shortage and has warned that it needs to raise cash to continue as a going concern. In an effort to address its money problems, Lordstown is evaluating strategic partners, according to the Reuters report.
https://www.tipranks.com/news/lordstown-motors-searches-for-funding-partners-stock-falls-over-5-report
Lordstown Motors (NASDAQ:RIDE)
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