Lordstown Motors has filed for Chapter 11 bankruptcy protection and said it was putting itself up for sale.
Courtesy Lordstown
Stocks traded higher Tuesday after consumer confidence in June rose to the highest level since June 2022.
These stocks made moves Tuesday:
Lordstown Motors
(ticker: RIDE), the electric-truck maker, filed for Chapter 11 bankruptcy protection and said it was putting itself up for sale.
Lordstown
also said it filed litigation against
Foxconn,
the Taiwan-based contract-manufacturing company, after a deal for Foxconn to provide the start-up with about $170 million in cash fell through. “Foxconn’s actions led to material damage to the company as well as its future prospects,” Lordstown said in a statement. The stock declined 17% to $2.29.
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