shares of lordstown motors corp ride tumbled 130 toward a record low in premarket trading tuesday after the electric vehicle maker declared a 1for15 reverse stock split the split will be effective may 24 the split will cause each 15 shares of the company’s outstanding class a common stock to be combined into one share of class a stock effectively multiplying the stock price by 15 “the reverse stock split is intended to improve the marketability and liquidity of the class a common stock” the company said in a statement “a higher market price can make the class a common stock more attractive to a broader range of institutional investors professional investors and other members of the investing public” the stock has closed below the 1 level since march 7 and closed at a record low of 27 cents on may 19 it has plummeted 737 year to date through monday while the global x autonomous  electric vehicles exchangetraded fund driv has run up 197 and the sp 500 spx has advanced 92