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Foxconn got assets to back up the investment. Foxconn will be fine either way.
Foxconn isn't, with a new $170 million investment.
Seems like investors are hesitant about RIDE.
I sure hope management can get their act together and turn this company around.
Short selling banks are going bankrupt. Good article.
Or we receive news of a contract and increased production for 2023 and the stock price goes to $5+ over night!
They’ll be in bankruptcy before the end of the year, .60 is being optimistic.
Not for long, Wall Street is currently disabled
and going through a complete overhaul.
Shorts are finally being targeted with all stocks and will
soon have no more borrowed shares to short.
One special dividend coming for many with coming
Nesara Gesara funding across the board to buy back shares and Pow.
Goldman Sachs has now laid off it's entire trading floor
on Wall Street. Gone!
https://www.marketwatch.com/story/genius-group-ceo-on-why-his-company-is-fighting-back-against-naked-short-sellers-and-its-not-alone-11674243477?siteid=yhoof2
Then you better sell tomorrow!
Shorts are in control. Maybe this time down it hits $.60 ?
Shorts are trying to shake the tree. Don’t let them manipulate you into selling your shares.
Yes…and? The author of that article doesn’t appear to have the wherewithal to know or understand what it means for RIDE. Do you? If so, please explain it.
The MIH platform is a Foxconn/Lordstown Motors partnership and why Foxconn invested 170mn in Lordstown preferred stock.
Do these tractors use hun motors? If not, what benefit is it to RIDE?
Maybe because I can drive down an interstate and see Rivian trucks?
36 trucks isn’t very visible.
Ag Report: Monarch MK-V electric tractor set for production in Lordstown
I haven't seen their forecast for this quarter, did they set one?
If there is nothing to measure them against they will be roasted.
Foxconn has a lot to answer for here if t is all down to supply chain issues
The company needs to show production and contracts to stop the bleeding.
Other EV companies surge today 10% + Rivian , Nikola, Canoo and many others but RIDE is still lagging. If it does not go pass $1.33 this will be back at $1.15 -1.30 range.
RIDE seems to be the red hair step child of Wallstreet taking a beaten .
But you’re not.
We should be in the $1.40’s today. What the hell?
There needs to be better policies in place protecting these new companies from the short shit vultures that attack these stocks.
Leading Short Seller Goldman Sachs, entire trading Floor on Wall Street, removed! Gone!
Short sellers are doomed as many more central banks and Hedge Funds are next and happening.
GS said they laid off 4000 but the truth is, all have been arrested VIA Military
The all new QFS can't and won't be tricked. Everything is tracked now, Everything!
It's just in time for a massive rebound with RIDE and many more.
Now I know why LMC hasn't brought any news lately about the MIH platform. It may all be at one time with the entire market and good bye to the Rothchild Central Banking systems once and for all.
Prediction: a surge in PPS in the coming weeks . Sell if it goes up too fast . Hold if it goes up slowly.
No significant change in Lordstown Motors Institutional Ownership. https://fintel.io/so/us/ride
LMC needs to put out some news of binding contracts of 1k, 2k and possibly a 10k order could make this company go back to one billion market cap in 12 months is very possible.that would put the PPS in the high $4’s .
up 11% on no news ? Is this the run on rumors and sell on news ?
Shorts are finally being targeted including Meme stocks.
A special dividend coming and Pow
Goldman Sachs has now laid off it's entire trading floor
on Wall Street. Gone!
https://www.marketwatch.com/story/genius-group-ceo-on-why-his-company-is-fighting-back-against-naked-short-sellers-and-its-not-alone-11674243477?siteid=yhoof2
The Monarch EV Tractor has been under production at Lordstown
under the MIH platform.
Production is a short term issue that will turn around especially as contracts are signed and big money is on the table.
I expect to see significant ramp up throughout the year.
orders are not / will not be the problem, production is. We have no forecast for Q1 yet do we?
Q4 was terrible.
Agree Foxconn has a lot to answer for - what was "ordered" from them to manufacture? They are the company that should be buffering the parts inventory against supply chain issues. RIDE outsourced it.
Reality is this stock is way undervalued thanks primarily to shorts.
If and when the company can secure their first significant contract of 5000-10,000 fleet vehicles we will be back into the $5-6$ range minimum IMO.
I think with FOXCONN in this partnership with the amount of money they invested it’s a very good bet that this is going to happen this year.
Again this is IMHO what will happen, but until it does, the stock price will continue to be manipulated by shorts.
M xux video on Lordstown Motors CEO at CES 2023.
Come on, it's really not that hard to tell. The Dr Jekyll and Mister...
I give up WHO?
The next PR needs to be positive news, not more excuses for lack of production or lack of sales.
If they have something in the works it’s time to execute, not keep it hidden under a bowl.
Foxconn has a lot of money invested and needs to hold these LORDSTOWN executives accountable to performing.
10 auto industry predictions for investors to keep an eye on this year
PUBLISHED SUN, JAN 15 2023
https://www.cnbc.com/2023/01/15/ten-auto-industry-predictions-2023.html
KEY POINTS
- Wall Street and industry analysts remain on high alert for signs of a “demand destruction” scenario for the U.S. automotive industry this year.
- Cox Automotive’s 10 predictions for the U.S. auto industry point to a challenging year ahead.
- They range from electric vehicle sales outpacing the overall industry to concerns about consumer demand amid economic pressures.
DETROIT — Wall Street and industry analysts remain on high alert for signs of a “demand destruction” scenario for the U.S. automotive industry this year as interest rates rise and consumers grapple with vehicle-affordability issues and fears of a recession.
Since the onset of the coronavirus pandemic in early 2020, automakers have experienced unprecedented pricing power and profits per vehicle amid resilient demand and low inventory levels due to supply chain and parts disruptions affecting vehicle production.
Those factors created a supply problem for the auto industry, which Cox Automotive and others believe may switch to a demand problem — just as automakers are slowly improving production.
“We’re swapping a supply problem for a demand problem,” Cox Automotive chief economist Jonathan Smoke said Thursday.
Cox has 10 predictions for the U.S. auto industry this year that point to such an outcome. Here they are along with reasons why investors should be mindful of them.
10. Federal incentives will encourage more fleet buyers to consider electrified solutions
While electric vehicle tax credits under the Inflation Reduction Act have not been finalized, incentives for commercial vehicles and fleet owners promise to be a major benefit.
Unlike consumer vehicles that qualify for credits of up to $7,500, fleet and commercial vehicles do not need to meet stringent U.S. requirements for domestic parts and batteries.
“This is actually where we think the majority of growth will be in new vehicle sales in ’23,” Smoke said.
Cox forecasts U.S. new vehicle sales will be 14.1 million in 2023, a slight increase from nearly 13.9 million last year.
This has been a battle with RIDE for me but somehow I have been able to average from $6.20 to $1.54 now in one account and $1.21 in another. The last run from $1.89 to $3.70 I sold at $3.48 to buy back at $2.50 and $2.00 . Sold at $2.00 for a loss then I have been buying under a buck and around $1.00 . I still believe in this company has a good future with Foxconn.
Dan Ninivaggi bought shares at $2.50 and Ed Hightower bought shares at $2.00 . I believe there is something in the pipeline that they are not letting us know. Foxconn is not going to let this die they have too much invested here. LMC needs to have some binding orders of 5k and 10k from a few fleet clients and we off to the races .
Video of the Lordstown Motors/Foxconn factory (translated into English, poor at times).
Posted 8 hours ago.
It’s a long uphill battle back to $2.40.
Going to need a serious contract before we surpass those numbers again.
Shorters, Burns, and company execs mishaps deflated the crap out of this stock the last couple months.
Sure look's like a break-out is occurring. Next stop will be a basing USD 1.30 or so.
I live in Syracuse and this is the warmest and least snowy that I can remember. I can still remember the blizzard of 66...
Let us not forget that Lordstown Motors was in serious contention for Car and Driver's 2023 North American New Truck of the Year.
I was just in Buffalo and Syracuse the last couple days - it's so crazy to see that there is almost no snow left on the ground from those storms! Bare grass and everything - some tiny snow piles still left here and there around in parking lots is about it. That area really is it's own microclimate.
I can't see them doing that for a number of reasons though.
They don't have the infrastructure to support EV charging in Ukraine - particularly under wartime conditions.
As we saw in the Baja250 that Steven Burns so foolishly entered Lordstown into - the Skateboard and drivetrain are in no way adequate for demanding off-road conditions, and the range of the vehicle is much too short to be usable. They only managed 40 miles in the Baja250, if you remember that debacle?
But most importantly, Lordstown is hanging by a thread right now financially. to spend even a couple million dollars on some promotional stunt like this would be the nail in the coffin for the entire company.
However, if Lordstown had been putting out regular PRs giving updates on the work being done, simple things like talking about durability testing (if they've even done any!) where they could tout successful milestones like the first "mile mile Endurance" or similar - then MAYBE - they would stand a chance of getting some U.S. government support to build test vehicles for the U.S. military.
Honestly, the company has been so mismanaged, I just don't see them staying in business for much longer.
As an EV fleet vehicle I would agree, not so much as a consumer targeted truck.
Ford has way more bells and whistles for the consumer.
Nu Ride's new five-person board is expected to appoint William Gallagher, managing director of M3 Partners — a transaction advisory firm in New York — as Nu Ride's president and CEO, according to the regulatory filing.
Gallagher faced a situation similar to Nu Ride as CEO at WMIH Corp., the public acquisition corporation that succeeded Washington Mutual Inc. — the parent of WaMu Bank in Seattle that was seized by federal thrift regulators in fall 2008. By January 2015, the shell company left over from the failure of Washington Mutual had raised close to $600 million to pursue acquisitions of financial companies that could benefit from its huge, tax-deductible losses, according to a report by the Seattle Times.
Gallagher took over as leader of WMIH in May 2015 "to oversee its acquisition strategy and manage its day-to-day affairs," according to M3 Partners.
He was responsible for "reviewing, vetting and analyzing a large number of potential target companies from a variety of different sectors and industry groups," M3 says.
"Ultimately, WMIH acquired Nationstar Mortgage Holdings to form Mr. Cooper Group," M3 says. Gallagher departed from WMIH after closing the Nationstar acquisition in July 2018.
Bill Gallagher has more than 35 years of experience in finance, investment and financial restructurings. He brings deep expertise in credit analysis and has long-term management experience in the financial services industry.
Prior to joining M3, Bill was the Chief Executive Officer at WMIH Corp (NASDAQ:WMIH), a public acquisition corporation which was the successor to Washington Mutual, Inc., from May 2015 to July 2018. Bill was recruited to WMIH to oversee its acquisition strategy and manage its day-to-day affairs. While there, he worked closely with WMIH’s strategic financial partner, Kohlberg Kravis Roberts & Co. At WMIH, Bill’s responsibilities included reviewing, vetting and analyzing a large number of potential target companies from a variety of different sectors and industry groups. Ultimately, WMIH acquired Nationstar Mortgage Holdings (NYSE symbol NSM) to form Mr. Cooper Group (NASDAQ:COOP). Bill departed from WMIH upon the closing of the acquisition of Nationstar as his job at WMIH was completed.
Prior to WMIH, Bill was CEO and Chief Risk Officer at Capmark Financial Group, formerly known as GMAC Commercial Mortgage (from March 2009 to May 2015). Bill was retained by Capmark to manage its financial restructuring following the global economic crisis and was responsible for the management of the company’s day-to-day affairs, the restructuring of both the company and its assets (including its $15 billion commercial loan portfolio), its bankruptcy process, and its winding down and distribution of assets to creditors and other stakeholders. Capmark was a highly successful restructuring as Bill and his colleagues significantly increased the recovery value to Capmark’s creditors.
Before joining Capmark, Bill was the Chief Credit Officer of RBS Greenwich Capital, the US fixed income investment banking business of the Royal Bank of Scotland, where he was responsible for all aspects of credit risk management. While at RBS Greenwich, Bill was responsible for a wide variety of US corporations and buy-side companies, including corporate borrowers and debt issuers, financial institutions, industrial companies with captive finance businesses, and a variety of US corporations who traded various securities with or through RBS Greenwich.
Earlier in his career, Bill was a Vice President at First Boston Corporation in that firm’s credit risk management department. At First Boston, Bill was responsible for managing credit risk to a wide variety of corporate issuers and financial institutions. Bill began his career at Chemical Bank, where he completed the bank’s credit training program and then worked as a loan officer in the middle market division and a credit officer in the financial institutions division.
Bill has a B.S. in business administration from Syracuse University and an MBA from New York University.
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