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Benzinga
Benzinga
Business
Rachit Vats

Why Lordstown Motors (RIDE) Stock Is Up 22% Today

Lordstown Motors Corp's (NASDAQ:RIDE) stock is trading 21.8% higher at $1.84 in the premarket session on Thursday.

What Happened: The beleaguered electric vehicle startup said on Wednesday it has closed a $230 million deal to sell its Ohio factory to Taiwan’s Hon Hai Technology (OTC:HNHPF), better known as Foxconn, sending its shares higher after the bell.

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