SPAQ
Lordstown Motors begins trading in latest debut for a SPAC-EV combination
- Lordstown Motors (RIDE) has seen some bouncy trading on its first day
of action on the Nasdaq after closing the reverse merger with DiamondPeak
Holdings Corp. (NASDAQ:DPHC).
- Shares of RIDE jumped to as high as $20.35 early in the session before
falling back to $18.80 at last check.
- Lordstown is expected to receive about $675M of gross proceeds from
the SPAQ deal, which it plans to use for production of the Endurance
truck.
- The company says it has secured 40K preorders for the truck already,
with deliveries targeted to begin late summer of 2021. Looking further
down
the road, Lordstown expects to achieve breakeven or better operational
earnings margins in 2022 and top 10% margins by 2024.
- On tap next in the EV-SPAQ world is the shareholder vote at Spartan
Energy Acquisition (NYSE:SPAQ) on Wednesday. SPAQ was one of the stocks
listed in Seeking Alpha's Catalyst Watch.
|Today, 12:22 PM
Lordstown Motors begins trading in latest debut for a SPAC-EV combination
- Lordstown Motors (RIDE) has seen some bouncy trading on its first day
of action on the Nasdaq after closing the reverse merger with DiamondPeak
Holdings Corp. (NASDAQ:DPHC).
- Shares of RIDE jumped to as high as $20.35 early in the session before
falling back to $18.80 at last check.
- Lordstown is expected to receive about $675M of gross proceeds from
the SPAQ deal, which it plans to use for production of the Endurance
truck.
- The company says it has secured 40K preorders for the truck already,
with deliveries targeted to begin late summer of 2021. Looking further
down
the road, Lordstown expects to achieve breakeven or better operational
earnings margins in 2022 and top 10% margins by 2024.
- On tap next in the EV-SPAQ world is the shareholder vote at Spartan
Energy Acquisition (NYSE:SPAQ) on Wednesday. SPAQ was one of the stocks
listed in Seeking Alpha's Catalyst Watch.
|Today, 12:22 PM
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