Why Lordstown Motors Stock Fell in February
Shares of Lordstown Motors (NASDAQ: RIDE) fell 23.2% in February, according to data provided by S&P Global Market Intelligence, as investors fretted about the growing amount of competition in the electric vehicle sector. Lordstown was forged out of a former General Motors factory in Ohio, and counts GM as both an investor and a provider of technical assistance. Morgan Stanley auto analyst Adam Jonas tapped the brakes on the rally midmonth, initiating coverage on Lordstown with an underweight rating and a price target of $18.
