Sunday, June 22, 2025

Latest

Lordstown Motors: “We have no binding purchase orders or commitments”

Lordstown Motors (NASDAQ: RIDE) can’t seem to keep its story straight. After the events that unfolded earlier this week whereby its CEO and CFO resigned following an internal investigation, the firms president attempted to calm the waters by stating that the company has “binding orders” for the first two years of production.

That, now, has turned out to be a lie.

Within a regulatory filing made this morning, on the topic of purchase agreements, the company stated that “although these vehicle purchase agreements provide us with a significant indicator of demand for the Endurance, these agreements do not represent binding purchase orders or other firm purchase commitments.” The comment was made to “clarify recent remarks by company executives.”

As a follow up, the company then directly states, “to date, we have engaged in limited marketing activities and we have no binding purchase orders or commitments from customers.”

Lordstown Motors last traded at $9.96 in pre-market trading, down 7.42%.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Tudor Gold x American Creek: Consolidating A Massive Gold Project

Aura Minerals: The Era Dorada Underground PEA

Gold Is Now Smart Money’s End Game | Doug Casey

Recommended

Goliath Resources Closes Out Funding Round With Total Gross Proceeds Of $27.1 Million

Silver47 Kickstarts 4,000 Metre Drill Campaign At Red Mountain Project

Related News

Lordstown Motors Plummets 60% After Bankruptcy Filing And Foxconn Lawsuit

Lordstown Motors Corp (Nasdaq: RIDE), the U.S. electric truck manufacturer, has filed for bankruptcy protection...

Tuesday, June 27, 2023, 09:00:24 AM

Foxconn Chairman Declares Lordstown Motors’ Endurance Pickup Truck Will Roll Off Production Line in 2H 2022; Significant Uncertainties Still Remain

In a late January 2022 interview with Nikkei Asia, Young Liu, the chairman of Hon...

Saturday, February 12, 2022, 09:00:00 AM

Lordstown Motors Hires Respected CEO from Automotive Industry; Rally Not Justified

On August 26, Lordstown Motors Corp. (NASDAQ: RIDE) appointed automotive industry veteran Daniel Ninivaggi as...

Sunday, August 29, 2021, 01:01:00 PM

Lordstown Motors Forced To Add “Going Concern” Language To SEC Filings

On June 8, Lordstown Motors Corp. (NASDAQ: RIDE) filed its delayed 10-Q for the quarter...

Thursday, June 10, 2021, 02:41:00 PM

Lordstown Motors Enters Arrangement With Foxconn For Facility Sale And Vehicle Production

Lordstown Motors (NASDAQ: RIDE) has evidently reached an arrangement with Hon Hai technology Group, whom...

Friday, October 1, 2021, 08:08:15 AM