Company News

August 26, 2021

Lordstown’s Latest Move ♟️

Lordstown investors have something to cheer about.. the EV company just named a new CEO. 😌

Effective this morning, Daniel Ninivaggi took over as Lordstown Motors’ CEO. Ninivaggi replaced Angela Strand, the company’s temporary replacement CEO, who filled in for Steven Burns in June.

$RIDE shares rocketed 25% on the news. 🚀 🚀 Ninivaggi is the former CEO of Icahn Enterprises, an investment conglomerate with over $33 billion in assets. He commented on his new role:

“I believe the demand for full-size electric pickup trucks will be strong and the Endurance truck… has the opportunity to capture a meaningful share of the market… I look forward to working with the talented Lordstown management team, our suppliers and other partners to bring the Endurance to market and maximize the value of our assets.”

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On the not-so-bright side, Lordstown Motors is still under investigation by the SEC for its questionable SPAC merger and vehicle pre-order process. 😅

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