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Lordstown Motors Co (RIDE)

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Last Post: 5/15/2021 5:33:32 PM - Followers: 68 - Board type: Free - Posts Today: 0

Lordstown, which owns a former General Motors (NYSE:GM) factory and counts GM among its investors, is planning to have its Endurance pickup truck in production by the end of 2021.


 

Who is Lordstown Motors?

Readers may recall that Lordstown Motors is the company that took possession of the former GM factory in Lordstown, Ohio. 

In its heyday, GM's Lordstown plant employed about 10,000 workers. But GM idled the factory in 2019 amid slumping demand for its product,
the compact Chevrolet Cruze sedan -- a decision that led to some strong expressions of concern from President Trump
and that was a factor in the United Auto Workers' strike against GM later that year. 

GM resolved the issue by selling the plant to Lordstown Motors at a value price,
and by offering some assistance to the new company as it worked to get its electric pickup ready for production.
That factory gives Lordstown a notable advantage over rivals including Nikola, which has an electric pickup prototype, but as of now, no place to build it. 

The Endurance, unveiled in June, has already drawn interest from commercial-fleet operators.
Lordstown said that it has over 27,000 pre-orders for the truck, representing more than $1.4 billion in potential revenue. 

Lordstown is led by Steve Burns, the former CEO of electric-delivery-van maker Workhorse Group (NASDAQ:WKHS). 

How Workhorse fits into this deal

Workhorse didn't just give Lordstown its CEO. It also licensed some of its designs and technology to the company. In exchange,
Workhorse received a 10% stake in Lordstown, along with an agreement that protects that stake from dilution for two years.
Workhorse is also entitled to a 1% fee on all debt and equity raised to fund Lordstown during that two-year period. 

Simply put, while Workhorse isn't named as an investor in the deal with DiamondPeak, it stands to benefit:
10% stake will be worth about $160 million at the post-merger company's pro forma $1.6 billion valuation,
and possibly much more as Lordstown ramps up to production next year. 

What should investors make of this?

My take is that while any vehicle start-up is a risky investment, Lordstown is a no-nonsense company with a promising product.
The Endurance is a sturdy four-wheel-drive pickup with some innovative features, notably a complete motor unit at each wheel.
That should simplify manufacturing, lowering costs and maintenance, which is important to fleet customers.

John Rosevear owns shares of General Motors. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

 
Shs Float 164 mil  
 
Shs Outstand 99 mil  
 
Short Float   
 
Insider Own 19.5%  
 
Inst Own 24.5%  
 
Debt/Eq  NO DEBT 0.00
Book/sh 7.87
52W Range 9.50 - 31.80  


[-chart]finviz.com/chart.ashx?t=RIDE&ty=c&ta=1&p=d&s=l[/chart]
 

 

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02-07-2021
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RIDE News: Lordstown Motors to Reschedule First Quarter 2021 Financial Results For May 24, 2021 05/14/2021 06:40:26 PM
RIDE News: Lordstown Motors Corp. Announces Response to SEC Guidance Issued on April 12, 2021 Applicable to Warrants Issued by Special P... 05/11/2021 04:05:00 PM
RIDE News: Lordstown Motors Announces Timing of First Quarter 2021 Financial Results and Webcast 05/04/2021 04:15:00 PM
RIDE News: Lordstown Motors reportedly late on real estate tax payment 04/27/2021 02:38:50 PM
RIDE News: Lordstown Motors trades lower after Goldman Sachs loses confidence in timeline 04/22/2021 07:08:58 AM
PostSubject
#865  Sticky Note Another great post from Reddit: https://www.reddit.com/r/LordstownMotorsEV/ WeTheMarket 04/20/21 08:00:14 AM
#614  Sticky Note This was posted on Reddit: WeTheMarket 03/19/21 08:30:36 AM
#980   Nice! Juschilln 05/15/21 05:33:32 PM
#979   Tesla vs. Lordstown Motors: Which Electric Vehicle Stock WeTheMarket 05/15/21 09:14:38 AM
#978   Here is one Beta spotted by someone on WeTheMarket 05/15/21 08:32:43 AM
#977   No, the betas were planned for 57 units KMC-1 05/15/21 01:55:45 AM
#976   Didn't Lordstown state that Beta rollout would be Garyedward71 05/14/21 09:22:00 PM
#975   Yeah that’s the old news that started the KMC-1 05/14/21 06:39:10 PM
#974   PSE commercial customers saw the world’s first all-electric WeTheMarket 05/14/21 02:12:10 PM
#973   Market Pathway Asks “Is $RIDE Stock an Investment WeTheMarket 05/14/21 01:01:42 PM
#972   And read this https://seekingalpha.com/instablog/47545695-high-tech-stock-revie 80857 05/13/21 08:02:00 PM
#971   Read this https://fortune.com/2021/04/15/hindenburg-research-nathan-anderson-sh 80857 05/13/21 07:59:08 PM
#970   Three very interesting new open positions posted by WeTheMarket 05/13/21 10:47:33 AM
#969   Read this: https://hindenburgresearch.com/lordstown/ Juschilln 05/13/21 09:49:23 AM
#968   That makes more sense. Yeah, I really don't KMC-1 05/11/21 05:05:25 PM
#967   Well....I was posting in response to rolling out Juschilln 05/11/21 04:51:12 PM
#966   You're not making sense. On one post you KMC-1 05/11/21 04:45:18 PM
#964   Didn't you just post a couple days ago KMC-1 05/11/21 04:04:50 PM
#963   There are not even enough employee cars in Juschilln 05/11/21 03:04:05 PM
#962   I hope you're right, but I don't agree KMC-1 05/11/21 11:27:33 AM
#961   I haven't seen any actual lawsuits, only the KMC-1 05/11/21 11:25:33 AM
#960   Lordstown Motors has close to $800 million in WeTheMarket 05/11/21 10:16:21 AM
#959   The SEC investigation is HUGE... Ride could be timetomakemoney 05/11/21 09:27:20 AM
#958   That is so sad... Either Retail or Commercial timetomakemoney 05/11/21 09:23:43 AM
#957   Stick a fork in Ride... The CEO and timetomakemoney 05/11/21 08:35:36 AM
#956   Only serious replies: How does Lordstown Motors suissac 05/11/21 08:04:27 AM
#955   I waiting on production farml1234 05/11/21 07:50:53 AM
#954   WE WILL SEE....ADDING! DMOST 05/11/21 06:07:47 AM
#953   First of all, if other car companies get WeTheMarket 05/10/21 08:20:34 PM
#952   Goodbye Lordstown, we hardly knew ye. KMC-1 05/10/21 05:05:35 PM
#951   About to break into the 6’s and still KMC-1 05/10/21 01:08:15 PM
#950   Burns reaching out to his buddies in the KMC-1 05/08/21 02:27:41 PM
#949   At one or two a week these are KMC-1 05/08/21 02:25:08 PM
#948   BlackRock Inc. reports 9.80% increase in ownership of WeTheMarket 05/08/21 07:25:04 AM
#947   More Betas out for delivery WeTheMarket 05/07/21 07:50:38 PM
#946   Link to Innervations Facebook page showing a new WeTheMarket 05/07/21 06:36:25 PM
#945   Yes Sir / Madame DMOST 05/07/21 04:41:40 PM
#944   Well now we get to play in the KMC-1 05/07/21 03:49:43 PM
#943   Link to Lordstown Motors list of open positions: https://recruiting.paylocity.co WeTheMarket 05/07/21 12:57:30 PM
#942   Lordstown Motors is posting new open positions almost WeTheMarket 05/07/21 12:52:49 PM
#941   Like I said before the Youngstown area is timetomakemoney 05/07/21 12:44:55 PM
#940   As to what you consistently state, that it DMOST 05/07/21 12:29:04 PM
#939   Not sure how locking in an 80% loss KMC-1 05/07/21 11:50:50 AM
#938   Yes some may say. But true, you DMOST 05/07/21 11:13:20 AM
#937   You’re crazy. No way am I putting another KMC-1 05/07/21 11:01:18 AM
#936   Someone had better get there ducks in a farml1234 05/07/21 07:44:52 AM
#935   Still adding.......... DMOST 05/07/21 07:10:46 AM
#934   Full collapse coming. Damn. KMC-1 05/06/21 04:32:30 PM
#933   Yes, it’s not embarrassment that I feel though, KMC-1 05/06/21 10:31:18 AM
#932   I am embarrassed to own this stock. Ambro24 05/05/21 10:59:44 PM
#931   $3.50 coming up soon. Yay. KMC-1 05/05/21 04:30:13 PM
#930   And now we’re playing in the $8s.... great KMC-1 05/05/21 09:42:45 AM
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