LORDSTOWN, Ohio - Lordstown Motors (NASDAQ: RIDE) stock price hit its lowest price ever Monday.

The company's stock closed at $7.37 per share, down more than 75% since the company's 52-week high of $31.80.

Lordstown Motor's stock has declined steadily since February. Since closing at $30.75 on February 11th, the stock has dropped nearly $24 to the current price.

Since that time, the company has faced lawsuits claiming that certain company officials profited off false claims. Hindenburg Research also released a report in March claiming that Lordstown had fake orders and undisclosed production hurdles.

Lordstown Motors also entered the Endurance into the San Felipe 250 in Mexico and made it only 39.8 miles of the 280-mile course.