Lordstown Motors (RIDE.US) shares plunged more than 10.0% during today’s session after Morgan Stanley (MS.US) downgraded its investment stance to ‘underweight’ from ‘equal weight’ and reduced its price target to just $2 from $8. The bank noted that the recently announced sale of Lordstown’s Ohio plant to Foxconn values the plant at less than a fifth of prior estimates.
Lordstown Motors (RIDE.US) stock fell from local high at $8.90 on Friday and the downward move has been extended this week. Stock launched today’s session with a bearish price gap, below major support at $5.80 which now acts as resistance. Should current sentiment prevail, then downward move may accelerate towards all-time low at $4.80. Source: xStation5
Daily Summary: U.S. stock indices are climbing following the PPI data
AI needs power and that’s where the profits are. Oracle and Bloom set the path.
US OPEN: Wall Street Rallies on Soft PPI Data
Software stocks rebound, as JPM falls flat and peace hopes remain
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
