Shares of Lordstown Motors Corp.
bounced 6.7% in premarket buying and selling Monday, after the electrical truck maker responded to a bearish short-seller report by saying it stays on observe to begin manufacturing of its Endurance electrical pickup truck in September 2021. The corporate mentioned that on Wednesday (March 17) it would “elaborate on its progress” towards the beginning of manufacturing. Lordstown’s inventory had tumbled 16.5% on Friday after short seller Hindenburg Research took purpose, accusing the company of being a “mirage.” Lordstown’s inventory has dropped 28.6% over the previous three months, whereas the S&P 500
has gained 6.7%.