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Lordstown stock bounces after response to short seller report, to ‘elaborate’ on progress on March 17 call

Shares of Lordstown Motors Corp. RIDE, -16.54% bounced 6.7% in premarket trading Monday, after the electric truck maker responded to a bearish short-seller report by saying it remains on track to start production of its Endurance electric pickup truck in September 2021. The company said that on Wednesday (March 17) it will “elaborate on its progress” toward the start of production. Lordstown’s stock had tumbled 16.5% on Friday after short seller Hindenburg Research took aim, accusing the company of being a “mirage.” Lordstown’s stock has dropped 28.6% over the past three months, while the S&P 500 SPX, +0.10% has gained 6.7%.

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