Short-seller Hindenburg says Lordstown Motors Faking EV truck pre-orders 


Hindenburg, a company specializing in forensic research, is targeting another electric car-maker. Now it’s after Ohio-based Lordstown Motors recently went public through a special-purpose acquisition company (SPAC)  DiamondPeak Holdings Corp. Which has a current market value of $1.6 billion.

Enter Email to View Articles


Short-selling Hindenburg Research’s bombshell report recently devastated electric car-maker Nikola Motor. It prompted an SEC investigation and set off a chain of events leading to the resignation of Trevor Milton, Nikola’s founder and CEO. And it completely disrupted the General Motors-Nikola landmark deal.

Hindenburg Shoots At Rising Star Lordstown Motors

Recently emerging as an independent company, Lordstown Motors is less than two years old. It went public in October 2020. Initially, Lordstown was part of CEO Steve Burns’ other company, Workhorse Group. This publicly-traded battery-electric technology company retains a stake of 10% in Lordstown.

Workhorse, founded in 1998, is a small struggling company. It recently lost its bid to supply electric vehicles to the U.S. Postal Service. And its shares fell nearly 15% on the news. The firm’s shares are now $16.58, down 60% from its February 4th high-mark of $42.96.