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If there is one company that is expected to be on the radars of investors this week then it is Lordstown Motors Corp (NASDAQ:RIDE). The company, which has been working on its own range of electric trucks for quite some time, finally got a major new breakthrough this morning.
The vehicles that the company had been working on were finally approved for delivery and that constitutes a major new development for the company as well. It is quite likely that the stock is going to come into focus among investors over the course of the coming days. It is a significant milestone for Lordstown Motors considering the fact that it had been waiting for this approval for quite some time and the development sent the stock upwards as well.
At this point in time, it is important for investors to keep in mind that the company had been working for quite some time in order to get its electric trucks something that the company had been working on for a long time.
The latest news with regards to the approval led to a major new focus on the Lordstown Motors stock and it has managed to deliver significant gains so far this morning. It is important to point out that the stock has not been in much focus in recent days but the situation has been quite different this morning.
It is going to be quite interesting to see if the stock can manage to add to its gains through the course of the week or not. The company finally got the approval to sell its electric trucks in the United States. The company is eventually going to ramp up production now that it got the much-needed approval. That is another factor that ought to be kept in mind with regard to future gains.