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RIDE - Lordstown Motors News Story

$7.99 -0.1  -0.9%

Last Trade - 07/05/21

Sector
Consumer Cyclicals
Size
Mid Cap
Market Cap £1.03bn
Enterprise Value £572.2m
Revenue £n/a
Position in Universe 2519th / 6854

BUZZ-EV maker Lordstown Motors jumps as GS starts with 'buy'

Fri 11th December, 2020 2:08pm
** Shares of the electric pickup truck maker  RIDE.O  climb
about 13% to $20.49 premarket
    ** Goldman Sachs starts coverage with "buy" rating, sets a
PT of $31 - thefly.com https://thefly.com/landingPageNews.php?id=3211307&headline=RIDE-Lordstown-Motors-initiated-with-a-Buy-at-Goldman-Sachs
    ** Lordstown's "first-mover advantage" as the first
all-electric pickup truck in the market, "unique" design
technology and features that should be well-received by the
customer base will help the company to be successful - GS 
    ** Industry discussions with potential fleet customers and
the roughly 50,000 pre-orders for the Endurance suggest "there
is good demand for the product." - GS 
    ** Stock jumped about 25% on Nov. 16 after co said its
electric pickup truck orders touched 50,000  urn:newsml:reuters.com:*:nL4N2I23IS
    ** Lordstown Motors went public through a reverse merger
with blank-check company DiamondPeak Holdings in a $1.6 bln deal
in August  urn:newsml:reuters.com:*:nL4N2F53DD
    ** The company's was last valued at about $3 bln, according
to Refinitiv data
    ** Meanwhile, two other electric commercial vehicles -
Electric Last Mile Solutions and Lightning eMotors - announced
plans to go public through mergers with blank-check companies
 urn:newsml:reuters.com:*:nL4N2IR2VC urn:newsml:reuters.com:*:nL1N2I43DU

 (Reporting by Medha Singh in Bengaluru)
 ((medha.singh@thomsonreuters.com))
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