LORDSTOWN, Ohio (WKBN) – Stock in Lordstown Motors hit an all-time low Tuesday morning at below $7 per share.
Investors were reacting to earnings Monday from Workhorse, which owns a 10% stake in LMC. It pushed back a production target after making just 38 vehicles a year to date.
Lordstown Motors dropped to $6.69 Tuesday morning but finished with a gain of 39 cents for the day. That’s a 5% move higher.
LMC is expected to provide its latest earnings report on Monday.
The Dow lost 473 points, making it the worst day since February. The Nasdaq slipped a dozen points.