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Groover's avatar
Groover
Explorer II
Mar 16, 2021

Another Tesla competitor in question

Now it is Lordstown Motors.

Among other allegations is this one:
"Burns confirmed LMC paid consultants to generate preorders, understood to be nonbinding as a way to assess market demand. He denied misrepresenting those as firm orders, though he told Yahoo Finance in January that LMC had "presold 100,000 electric pickup trucks." Burns described the reservations as "very serious orders" when pressed by CNBC's Jim Cramer."

Hindenburg vs Lordstown Motors

Startups are difficult.