Why Lordstown Motors' Stock Is Trading Lower Today

Lordstown Motors Corp. RIDE shares are trading lower on Friday following reports suggesting the Department of Justice is probing the company.

Reports also indicate the Lordstown Motors inquiry is being handled by the U.S. Attorney's Office in Manhattan.

Lordstown Motors Corp is an automotive company founded for the purpose of developing and manufacturing light duty electric trucks targeted for sale to fleet customers.

Lordstown Motors' stock was trading about 11.7% lower at $9.14 per share at the time of publication. The stock has a 52-week high of $31.80 and a 52-week low of $6.69.