Lordstown Motors (RIDE) Endurance test vehicle catches fire

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Go back to Lordstown Motors (RIDE) Endurance test vehicle catches fire

Lordstown (RIDE) announces reverse stock split amidst dispute with Foxconn

May 23, 2023 10:39 AM EDT

Shares of electric automaker, Lordstown Motors (NASDAQ: RIDE) slid about 10% in pre-market trading Tuesday after the company announced a 1:15 reverse stock split of its Class A common stock, $0.0001 par value per share. The split will go into effect at 12:01 a.m. Eastern Time on May 24, 2023.

The Reverse Stock Split was approved by the Companys stockholders at its 2023 Annual Meeting of Stockholders, held on May 22, with the final ratio determined by the Companys board of directors.

RIDE hopes the move will improve the marketability and liquidity of... More