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Lordstown Motors Losses?

Lordstown Motors Corp.’s shares dipped on Monday as the electric truck startup’s two top executives stepped down after the company’s board found evidence of inaccurate statements to investors.  The onetime star special purpose acquisition company’s stock took its biggest one-day drop ever.

Chief Executive Steve Burns and Chief Financial Officer Julio Rodriguez have resigned from the company.

It was the latest setback for the company, which warned last week that it might not have enough cash to fund development of its first truck or even survive the next 12 months if it can’t raise more capital. In March, the startup disclosed a Securities and Exchange Commission investigation of its operations after a short seller said that its technology was flawed and that preorders for its truck were nonbinding.

Shares of the company sank 19% to $9.26 — the lowest in almost three weeks. The stock is down 54% this year and more than 70% below the closing high of $31.40 it reached in September.