{"id":17793,"date":"2023-04-20T21:00:33","date_gmt":"2023-04-20T21:00:33","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/lordstown-motors-gets-nasdaq\/"},"modified":"2023-04-20T21:04:55","modified_gmt":"2023-04-20T21:04:55","slug":"lordstown-motors-gets-nasdaq","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/lordstown-motors-gets-nasdaq\/","title":{"rendered":"Lordstown Motors gets Nasdaq delisting notice, explores reverse stock split"},"content":{"rendered":"

(Reuters) – Lordstown Motors Corp said on Thursday it has received a delisting notice from Nasdaq and is evaluating actions including a reverse stock split to meet the minimum bid price requirement set by the exchange.<\/p>\n

The company received the notice because the closing bid price for the electric-truck maker’s class A common stock fell below the minimum required price of $1 per share for 30 straight sessions, according to a regulatory filing.<\/p>\n

Like other EV companies, Lordstown has been plagued with surging costs and supply challenges, and missed the delivery target for its Endurance pickup truck. Its shares have lost over 50% of their value so far this year.<\/p>\n

Lordstown had put in a proposal on April 11 for its annual shareholder meeting, slated for May 22, to get an approval to carry out a reverse stock split of its class A common stock in the ratio ranging from one-for-three to one-for-fifteen. <\/p>\n

The notice has no immediate impact on the company’s stock listing and Lordstown Motors will have until Oct. 16 to regain compliance with Nasdaq’s rules.<\/p>\n

\n

(Reporting by Chavi Mehta in Bengaluru; Editing by Shailesh Kuber)<\/p>\n

\"tagreuters.com2023binary_LYNXMPEJ3J0KH-VIEWIMAGE\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – Lordstown Motors Corp said on Thursday it has received a delisting notice from Nasdaq and is evaluating actions including a reverse stock split to meet the minimum bid price requirement set by the exchange. The company received the notice because the closing bid price for the electric-truck maker’s class A common stock fell […]<\/p>\n","protected":false},"author":8,"featured_media":17794,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[1223],"class_list":["post-17793","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3J0KH-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/17793","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=17793"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/17793\/revisions"}],"predecessor-version":[{"id":17795,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/17793\/revisions\/17795"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/17794"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=17793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=17793"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=17793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}