OHIO: Lordstown Motors Corp shares took their biggest one-day drop ever after its two top executives stepped down and the electric truckmaker’s board found evidence of inaccurate statements, dimming the shine of the one-time special purpose acquisition companies or SPAC star. Chief executive officer Steve Burns and chief financial officer Julio Rodriguez have resigned from the company, effective immediately, the company said in a statement yesterday. Burns declined to comment about his exit in a text message. Shares of the company sank 19% to close at US$9.26 (RM38.10) the lowest in almost three weeks. The stock is down 54% this year and more than 70% below its closing high of US$31.40 (RM129.21) in September.

Source: The Star June 15, 2021 04:41 UTC