The CEO of electric-truck manufacturer Lordstown Motors, accused by short-seller Hindenburg Research of inflating preorders for its Endurance pickup, responded to the allegations by invoking Taylor Swift lyrics, saying, "Haters gonna hate."
Business Insider chronicled Lordstown CEO Steve Burns' response to the report published last Friday by Hindenburg Research. "Lordstown is an electric vehicle SPAC with no revenue and no sellable product, which we believe has misled investors on both its demand and production capabilities," the report said.
It contributed to a 16 percent dip in Lordstown's stock as of Friday.
This is the second time Hindenburg has floated a report targeting an electrical vehicle manufacturer, Business Insider noted. A September 2020 Hindenburg report took Nikola to task, citing "intricate fraud."
Source: Business Insider
