Lordstown Motors Corp. shares fell more than 17% in midday trading Monday, reversing course from pre-market. The stock was on track for its lowest close since Jan. 28, when it closed at $2.45, and its largest percent decrease since Nov. 12. Lordstown is down more than 90% from its record closing high of $31.40 hit on Sept. 21, 2020. Earlier Monday, the company reported a narrower-than-expected quarterly loss and said it was on track to start making and delivering its Endurance EV in the third quarter, aiming to sell about 500 of the electric pickup truck this year and as many as 2,500 vehicles in 2023.
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