I see the price creeping up a few pennies. When they sold the assets it seemed like there was quite a bit more cash coming in than all of the debt of the company combined. It seemed like there may be a buck or two a share available for common shareholders.
Does anyone else have better numbers on what assets may be left over after everyone is paid?
Not confident enough yet to buy for a nickel, but that might be a great deal.
$MULN If you build it they will come
"The bankruptcy court in Delaware has scheduled an asset auction in the case for Oct. 7 and is considering a proposed asset purchase agreement with Mullen Automotive, which describes itself as an emerging electric vehicle maker"
MISHAWAKA, Ind. (WNDU) - The Mishawaka plant where the civilian Hummer was once built could soon have a new owner.
The front runner appears to be a California-based company called Mullen Automotive. $MULN
According to court documents, Mullen Automotive has offered more than $93 million in cash and other consideration to buy the plant and most of the other assets of Electric Last Mile Solutions (ELMS) – the company that planned to build electric trucks in Mishawaka but ended up filing for bankruptcy in June
$MULN may grab the assets IMHO
the stock is up 45% today guess someone didnt get the memo,
True I sold good luck
Would not be surprised
Look again it’s going up
The only thing that will save this is a buyout by another auto maker.
Stock is toast, but you need a real trading platform so you can see the market in real time, not delayed time. Illusionary trading , one can only fake it for so long
Nobody cares how often you go to the store
I’ve hearing Tuesday it might rocket like rev what do you think
By Josh Beckerman
Shares of electric-vehicle maker Electric Last Mile Solutions Inc., which filed for bankruptcy Tuesday and said it would liquidate, recently traded up 40% at 39 cents.
In a Tuesday filing with the Securities and Exchange Commission, the company said it didn't intend to appeal a Nasdaq delisting determination. It expects shares will be suspended at the opening of business June 23 and subsequently delisted from Nasdaq.
Write to Josh Beckerman at firstname.lastname@example.org
True Owell regroup
Could have been short covering
There was big buys in the .425 range
And recent shorts could soon all be squeezed out of their positions if the momentum keeps going the way its going, long before that happens, you can be right on one hand, and than end up broke on the other hand that really matters.
Flying today. Saw volume in premarket with 15 weekly rsi.
Pps won’t last though.
It seems to me that's an institutional fund or two or three bidding up the price to draw in suckers so that the funds can realize a higher sell price. The co. is bankrupt and liquidating all assets. Nothing is being returned to shareholders. Jmo....
WorthyLion, i agree completely. That's the only reason i stayed in the stock last Fall-- the idea that certification was imminent any week....
About Electric Last Mile Solutions, Inc.
Electric Last Mile Solutions, Inc. is focused on defining a new era in which commercial vehicles run clean as connected and customized solutions that make our customers’ businesses more efficient and profitable. ELMS’ first vehicle, the Urban Delivery, is anticipated to be the first Class 1 commercial electric vehicle in the U.S. market. The company is headquartered in Troy, Michigan. For more information, please visit www.electriclastmile.com.