Embark Technology Inc (EMBK)

[Luckypennyman]

Bounce soon. Buyout or merger is my sense of it.

gl.

[Luckypennyman]

The latest price target for Embark Technology (NASDAQ: EMBK) was reported by Vertical Research on March 6, 2023. The analyst firm set a price target for $4.00 expecting EMBK to rise to within 12 months (a possible 53.26% upside). 3 analyst firms have reported ratings in the last year.

[Luckypennyman]

5:51 am ET March 6, 2023 Autonomous Trucking Company Embark Gives In To Industry Challenges; Cuts Jobs; Weighs Liquidation

On March 1, 2023, Embark Technology, Inc (NASDAQ: EMBK) board approved a reduction in its current workforce by approximately 230 employees.
The decision reflected cost-reduction initiatives intended to reduce operating expenses.
The autonomous trucking company reportedly looked to downsize 70% of its workforce and shut down two offices. CEO Alex Rodrigues noted in an internal email that the remaining 30% of workers would focus on winding down operations, TechCrunch reports.
Rodrigues added, "Today, having exhausted all alternatives, we are taking the incredibly difficult step of laying off ~70% of the company and shutting down our SoCal and Houston offices."
The layoffs come more than a month after banking advisory firm Evercore met with various AV companies to explore selling Embark's assets.
Embark looks to book charges of approximately $7 million - $11 million in connection with the reduction in force, primarily consisting of the notice period and severance payments, employee benefits, equipment costs and related costs, and noncash expenses associated with the vesting of share-based awards.
Additionally, Embark expects to realize noncash expenses concerning specific other share-based awards.
Embark looks to book most of these charges in the first and second quarters of 2023 and complete the workforce reduction by the end of the second quarter of 2023.
The board also approved a process to explore, review and evaluate a range of potential strategic alternatives, including exploring alternative uses of the Company's assets to commercialize its technology, additional sources of financing, and possible dissolution or winding up of the company and liquidation of its assets.
CEO Alex Rodrigues and CTO Brandon Moak founded Embark in 2016. In 2021, Embark agreed to merge with special purpose acquisition company Northern Genesis Acquisition Corp II in a deal worth $5.2 billion.
Price Action: EMBK shares closed lower by 4.51% at $3.81 on Friday.

[Luckypennyman]

Think we will gravitate to .09 but any news of the Knight Swift driver results may be enough to launch to higher pps levels.

I noticed the sensing equipment manufacturing companies have lately gotten their boost because the demands for them are growing.

As I understood the last PR. Knight/Swift have at least 1 truck in service and at sometime soon will likely PR. the news of how successful it is.
While automation is something that we need to be careful with, everyone wants it, it says a-lot when people are not as needed in a society as much as it use to, it in fact puts a scare on me. Everything becoming automated using drones for mail deliveries, robot surgerys that can do far better surgeries than the best surgeons, what a world we live in. Are people going to become cheap? I hope that the people will not be the lesser in the new world.
Anyways, I don't think we will loose here.

Family is first.


Of course!
glta!

[Nestegg McMuffin]

“EMBKW Embark Technology, Inc. - Warrant exercisable for one share at $11.50 per share”

[madras50]

do you know at what EMBK price would the warrants start climbing in a big way?

[madras50]

any reason for the pop today? just oversold?

[Nestegg McMuffin]

Up another 10%.

[Luckypennyman]

Should do well.

Great news soon!

Gl.

[Nestegg McMuffin]

Up 10% already. That was quick.

[Nestegg McMuffin]

Bright future. Cash on the books. I added.

[rolvram]

http//seekingalpha.com/article/4511361-embark-technology-inc-embk-ceo-alex-rodrigues-on-q1-2022-results-earnings-call-transcript?

[TheFinalCD]

$embk $nwbo what in tarnation

[willlbone]

Welcome to May 2022. Dump.