Lion Electric Drops on Revenue Miss, Dwindling Cash Balance [Financial Post (Toronto, Ontario, Canada)]
The Lion Electric Company Common Shares (LEV)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Shares of Lion Electric Co. fell as much as 10.5% after the electric vehicle manufacturer missed estimates for revenue and its cash balance dropped. The Canadian company, which makes electric buses and trucks, said revenue was $55.5 million, well below the $69.4 million expected by analysts tracked by Bloomberg. It has been hurt by bottlenecks in a government program that helps public transit and school bus operators purchase new vehicles. Article content Article content More than half of the vehicles in Lion Electric's $475 million order book are tied to funding from the Canadian government's Zero Emission Transit Fund, or ZETF. Delays and challenges with approvals in that program “continue to negatively impact the company's scheduled deliveries and sales efforts,” Lion Electric said in a filing. Its order book shrunk to 2,004 units, down abo
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News
- ROSEN, A LEADING INVESTOR RIGHTS LAW FIRM, Encourages Northern Genesis Acquisition Corp. n/k/a The Lion Electric Company Investors to Secure Counsel Before Important Deadline in Securities Class Action – NGAGlobeNewswire
- ROSEN, A TRUSTED AND LEADING LAW FIRM, Encourages Northern Genesis Acquisition Corp. n/k/a The Lion Electric Company Investors to Secure Counsel Before Important Deadline in Securities Class Action – NGAGlobeNewswire
- LION ELECTRIC ANNOUNCES RESULTS OF ANNUAL SHAREHOLDERS MEETINGPR Newswire
- ROSEN, A LEADING LAW FIRM, Encourages Northern Genesis Acquisition Corp. n/k/a The Lion Electric Company Investors With Losses in Excess of $100K to Secure Counsel Before Important Deadline in Securities Class Action - NGAPR Newswire
- The Lion Electric Company (NYSE: LEV) had its price target lowered by analysts at DA Davidson from $3.50 to $1.50. They now have a "buy" rating on the stock.MarketBeat
LEV
Sec Filings
- 5/16/24 - Form 6-K
- 5/8/24 - Form 6-K
- 4/18/24 - Form 6-K
- LEV's page on the SEC website