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Why Lordstown Stock Is Up Today

TheMotleyFool

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The situation at Lordstown Motors (NASDAQ: RIDE) is not as dire as some fear, according to the company's executives, helping the shares to rebound Tuesday after a miserable performance a day earlier. Lordstown shares traded up as much as 14% on Tuesday on hope the electric vehicle maker will have enough cash to bring its truck to market.

Lordstown has been traveling down a rough stretch of road of late. Back in March the company faced accusations from short-seller Hindenburg Research that it was overstating its preorders, and the company last week warned it might not have enough cash to stay in business for another year.

Lordstown's Endurance pickup. Image source: Lordstown.

Source Fool.com

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