- Workhorse surged 16% on Monday after it was reported that
President Trump viewed theLordstown Motors 2021 Endurance pick-up truck on the South Lawn at the White House. - Workhorse owns a 10% equity stake in Lordstown Motors, which is targeting a 2021 launch of its electric pick-up truck.
- DiamondPeak Holdings also jumped 12% on the news, as the SPAC has previously announced that it will merge with Lordstown Motors, bringing the company public once again after Workhorse spun it off in 2019.
- $4.
President Donald Trump's viewing of the 2021 Endurance electric pick-up truck produced by Lordstown Motors spurred a 16% jump in shares of $4.
Workhorse owns a 10% equity stake in Lordstown, which was spun off as its own independent company from Workhorse in 2019.
Eamon Javers of CNBC $4 on Monday, "Now pool reporters have been brought out to the South Lawn, where they send this report: 'The president was already on the South Lawn when we arrived. He is looking at a Lordstown Motors 2021 endurance truck." The White House subsequently published remarks and $4 of the company's visit.
Lordstown is targeting a 2021 launch of the Endurance pick-up truck, and is planning to go public with a SPAC later this year.
Shares of $4 also jumped on the news, by as much as 15% in Monday trading. The company said it $4 Ohio-based Lordstown in August.