Shares of Lordstown Motors Corp., the Youngstown, Ohio-area electric vehicle startup, are rebounding Friday morning from a blow dealt by an analyst downgrade on Thursday.
Lordstown Motors shares (Nasdaq: RIDE) were up about 1% to $6.80 in mid-morning trading on Friday after falling 1.6% on Thursday when analysts at Bank of America Securities lowered their investment guidance to the equivalent of “sell” from “neutral,” according to MarketWatch.
Led by John Murphy, the analysts downgraded Lordstown Motors because the electric vehicle maker is “just one of many participants in the automotive industry evolution towards electrification,” according to MarketWatch.
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September 18, 2021 at 01:20AM
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Lordstown Motors shares rebound after analysts lower investment guidance - cleveland.com
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