Source Cited in Hindenburg Research Report Refutes Its Claims – Business Journal Daily

Source Cited in Hindenburg Research Report Refutes Its Claims – Business Journal Daily

YOUNGSTOWN, Ohio – The CEO of a company named as a source in a short-seller’s report alleging Lordstown Motors Corp. has misled investors says its findings are false.

“I think it’s obvious what the report was intended to do,” says Tim Grosse, CEO of Texas-based E Squared Energy, a company that was singled out in a scathing report issued March 12 by Hindenburg Research.

Short sellers realize profits when a stock drops in value, which is what Grosse suspects is behind the Hindenburg report. Shares of Lordstown Motors plummeted more than 19% in the hours after the…

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