Lordstown Motors (RIDE+1.9%) moves higher on reports that the company is in talks to raise capital.
A report from Reuters indicates that Lordstown has enough capital to continue operations, meet supplier obligations and begin at least some limited production.
That would be a step forward from the "going concern" warning filed yesterday by Lordstown that rattled shares.
Lordstown is also hoping to close a deal with the Department of Energy for a $200M to help retool a factory.
The financial future of Lordstown is of interest to General Motors (NYSE:GM), which has a $25M investment in the electric truck maker.