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Lordstown Motors shares surge on appointment of ex-Icahn exec as CEO

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The Lordstown Motors Corp. Endurance electric pickup truck sits on stage during an unveiling event in Lordstown, Ohio, U.S., on Thursday, June 25, 2020.

Matthew Hatcher | Bloomberg | Getty Images

Shares of Lordstown Motors surged Thursday after the embattled electric vehicle start-up named Daniel Ninivaggi, a longtime automotive veteran and former leader of Icahn Enterprises, as its new CEO.

The volatile stock was up by as much as 41.4% in intraday trading before leveling off to about $6.40 a share, an increase of 16.2% Thursday afternoon. The stock has ranged from a low of $4.77 a share to as high as $31.80 a share during the past 52 weeks.

Ninivaggi downplayed the stock’s Thursday…



Source cnbc.com

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