Lordstown Motors Stock Keeps Falling

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By Douglas A. McIntyre Published
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Lordstown Motors Stock Keeps Falling

© Lordstown Motors Corp.

Lordstown Motors was left for dead a few weeks ago. When Foxconn bought the Lordstown assembly plant in Ohio for $230 million, the U.S. company got a reprieve. That will not last.

Lordstown has been bombarded with trouble. Semiconductor shortages have plagued the industry. Many larger companies have the balance sheets and sales to wait this out. Lordstown has neither.

Lordstown will rely on electric pickup sales. Ford will dominate this business in months. The electric version of the wildly popular Ford F-150 already has come to market. Ford has millions of F-150s on the road. A significant portion of these owners eventually will shift to the Ford F-150 Lightning.
[nativounit]
Tesla will be in the pickup market, probably next year. General Motors will come to market with an electric version of the popular Silverado. Ram, usually the second best-selling pickup in the United States, will reach the market for electric pickups as well.
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Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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