Why Lordstown Motors Stock Is Charging Higher Today

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Shares of electric truck start-up Lordstown Motors (NASDAQ: RIDE) were sharply higher on Monday afternoon, after the company said it now has more than 100,000 reservations for its Endurance electric pickup truck.

As of 1:15 p.m. EST, Lordstown’s shares were up about 20.4% from Friday’s closing price.

In a Monday morning statement, the Ohio-based company said it now has more than 100,000 non-binding reservations for the Endurance, an electric pickup truck designed around the needs of fleet operators. CEO Steve Burns said that all of those 100,000 reservations are from operators of commercial fleets, and that the average order size is close to 600 trucks.

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