Your question: Will Diamond Peak Holdings become ride?

Will Diamond Peak Holdings turn into RIDE?

The Ohio-based company is now tradable as NASDAQ: RIDE after completing a Special Purpose Acquisition Company (SPAC) merger with Diamond Peak Holdings.

Does DPHC convert RIDE?

The combined company will remain listed on the Nasdaq exchange, but the ticker symbol will change to “RIDE” from “DPHC” when the deal is completed, which is expected in the fourth quarter of 2020.

What did DPHC become?

Accordingly, DiamondPeak’s Class A common shares and public warrants that traded under the symbols, DPHC and DPHC WS, will resume trading under the symbols, RIDE and RIDE WS, respectively. Moreover, the combined company will officially adopt the name Lordstown Motors Corp.

Who is Diamond Peak Holdings merging with?

BGL Announces the Merger of Lordstown Motors Corporation with DiamondPeak Holdings Corporation in a Transaction Valued Over $1.6 Billion.

Is Ride stock a buy or sell?

Out of 7 analysts, 0 (0%) are recommending RIDE as a Strong Buy, 0 (0%) are recommending RIDE as a Buy, 1 (14.29%) are recommending RIDE as a Hold, 3 (42.86%) are recommending RIDE as a Sell, and 3 (42.86%) are recommending RIDE as a Strong Sell. What is RIDE’s earnings growth forecast for 2021-2023?

Is DPHC stock a buy?

BTIG Research is very positive about DPHC and gave it a “Buy” rating on Oct 12, 2020.

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Who is ride merging with?

The last time I wrote about Lordstown Motors (NASDAQ:RIDE) was before it completed its merger with DiamondPeak Holdings, the special purpose acquisition company that went public in February 2019, raising $250 million to find a potential target within 24 months.

Is Diamond Peak a SPAC?

The company went public last year in a reverse merger with Diamond Peak Holdings Corp., a special purpose acquisition company (SPAC). The business combination valued the company at $1.6 billion and it is currently trading below that valuation.

Did GM sell the Lordstown plant?

GM decided to sell the plant to Lordstown Motors Corp., which pledged to hire 400 people to make its Endurance pickup truck.

Does workhorse own Lordstown Motors?

WKHS 2.32% said Monday it sold down much of its stake in Lordstown Motors Corp. … Workhorse, also based in Ohio, was an early investor in Lordstown Motors, which was established in 2019 by Workhorse founder and former chief executive Steve Burns, an entrepreneur who had previously begun tech and marketing companies.

Does workhorse own ride?

Workhorse Group Inc. … Between December 2020 and June, Workhorse owned about 16.5 million shares of Lordstown RIDE, -5.72% , Workhorse said. That investment was valued at $182.3 million in June and $330.6 million in December. Lordstown shares have lost 71% this year and more than 50% in the past 12 months.