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RIDE - Lordstown Motors News Story

$5.01 -0.1  -2.5%

Last Trade - 15/10/21

Sector
Consumer Cyclicals
Size
Mid Cap
Market Cap £644.9m
Enterprise Value £378.8m
Revenue £n/a
Position in Universe 3117th / 7247

BUZZ-Lordstown Motors hits about 1-month high on CEO appointment

Thu 26th August, 2021 2:56pm
(Updates)
    ** Shares of electric truck maker  RIDE.O  soars as much as
23.2% to about 1-month high of $6.79 in early trading
    ** RIDE appoints Daniel Ninivaggi as its chief executive
officer with immediate effect  urn:newsml:reuters.com:*:nL4N2PX2XE
    ** Earlier in June, RIDE's founder and former CEO Steve
Burns and CFO Julio Rodriguez resigned after co's board reported
conclusions from an internal investigation into claims made by
short-seller Hindenburg  urn:newsml:reuters.com:*:nL3N2NW1EY
    ** Ninivaggi was the former CEO of Icahn Enterprises L.P,
controlled by activist investor Carl Icahn
    ** RIDE trading volume of ~28 mln shares so far vs 10-DMA of
~10.7 mln - Refinitiv data
    ** Stock down ~65% YTD


    

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))
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