Lordstown stock ticks up as production and deliveries resume ‘at a very low pace’

Shares of Lordstown Motors Corp.
RIDE,
+2.00%
rose 0.1% in premarket trading Tuesday, after the manufacturer of light-duty electric vehicles said production and deliveries resumed in April. The company had said in February that it halted production of deliveries as it deals with performance and quality issues with some Endurance components, as it recalled some Endurance electric trucks to address an electrical connection issue. The company said on Tuesday that it expects the resumption of production and deliveries “to continue at a very low pace.” Separately, the company said it had entered into an agreement with Amerit Fleet Solutions to provide EV service and warranty for the Endurance. The stock, which had gained 5.8% the past three sessions since closing at a record low of 52 cents on April 12, has tumbled 51.8% year to date through Monday, while the S&P 500
SPX,
+0.33%
has gained 8.1%.