Da Lair V

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Looks like our old RIDE play is in for a bumpy ride, down

Lordstown Motors (RIDE) - After yesterday’s 16% rout, shares of the newly public electric-car maker are down more than 2% during premarket trading after the company said on Tuesday there was “substantial doubt” about its ability to continue as a growing concern in the next year because of problems funding the production of its vehicle. Lordstown is one of a number of EV manufacturers to join public markets over the past year via a merger with a special purpose acquisition company, or SPAC, a deal that helped it raise more than $600 million. But designing and scaling a vehicle is expensive, and as the amount of EV competition grows, the company could find it harder to access capital.