Lordstown Motors Short Sellers Make Millions As Share Price Whimpers

Lordstown Motors Short Sellers Make Millions As Share Price Whimpers

3 years ago
Anonymous $WHrWmjSJBZ

https://wccftech.com/lordstown-motors-short-sellers-make-millions-as-share-price-whimpers/

Short sellers betting against Ohio-based electric vehicle manufacturer Lordstown Motors have made significant profits throughout the course of this year. Lordstown, which came to the limelight earlier this year after a report from Hindenburg Research alleged irregularities, aims to manufacture electric trucks and is known for its partnership with General Motors, which has included the company as its Tier 1 supply chain partner. Now, data from S3 Partners reveals that the short sellers had gained $236 million in their bets against the company as of the start of this month.

Lordstown Motors opened with a share price of $20.38, which was already below its all time high price of $29, which the shares had touched in September last year due to investor enthusiasm for its electric truck. However, the stock went on to lose roughly 30% of this later during the year, and all hopes for recovery were dashed this year, especially in the aftermath of Hindenburg Research's shocking report which saw management shakeups at the company.

Lordstown Motors Short Sellers Make Millions As Share Price Whimpers

Sep 10, 2021, 6:44pm UTC
https://wccftech.com/lordstown-motors-short-sellers-make-millions-as-share-price-whimpers/ > Short sellers betting against Ohio-based electric vehicle manufacturer Lordstown Motors have made significant profits throughout the course of this year. Lordstown, which came to the limelight earlier this year after a report from Hindenburg Research alleged irregularities, aims to manufacture electric trucks and is known for its partnership with General Motors, which has included the company as its Tier 1 supply chain partner. Now, data from S3 Partners reveals that the short sellers had gained $236 million in their bets against the company as of the start of this month. > Lordstown Motors opened with a share price of $20.38, which was already below its all time high price of $29, which the shares had touched in September last year due to investor enthusiasm for its electric truck. However, the stock went on to lose roughly 30% of this later during the year, and all hopes for recovery were dashed this year, especially in the aftermath of Hindenburg Research's shocking report which saw management shakeups at the company.