In today's video, I look at Lordstown Motors (RIDE -9.80%) and share some bullish and bearish thoughts on the company's results for the first quarter of 2021.
The bad for Lordstown Motors
- Even though the production of the Endurance pickup truck is still on track to begin on schedule, the company has recently announced that production will be at best 50% of prior expectations.
- Operating expenses are expected to be much higher than previously guided. As a result, the company is pursuing additional capital to fund the business plans.
- Lordstown Motors now expects to have a weaker cash and cash equivalent position than previously guided for the end of the year.
Click the video below for my full thoughts.
*Stock prices used were the midday prices of May 25, 2021. The video was published on May 25, 2021.