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With Foxconn and Burns owning the majority of shares the reverse split should happen. I just not sure about how low the PPS will drop but I figure another 25% if no news in the next couple of weeks.
I am not surprised. The reverse split is up to shareholders voting approval.
Back at ya Wolf!
CES Expert Talk - The Future of EV Ecosystem & Electric Mobility
Speaker:
MIH CEO | Jack Cheng
Lordstown Motors CEO | Edward T. Hightower
Monarch Tractor CEO | Praveen Penmetsa
INDI EV, VP of Administration | Frank Modiri
I disagree. Shorts were destroyed last time Hightower released updates on a Sat.
Either way RIDE will be unstoppable. The short selling Hedge Funds and Banks are going under for good as nobody is borrowing anything any longer, now that the QFS took over on Thur. We are back on the Gold Standard where the Fiat petrol dollar is now worthless and why thousands of Central Banks are crashing worldwide and why markets are also crashing because banks are being liquidated.
Surviving Banks that are Basel III compliant will all be backed by Gold. Short selling Hedge Funds will soon be a thing of the past as banks go insolvent. Central Banks will merge to stay afloat which will ultimately wipe them all out.
RIDE is healthy and strong with a long runway for take off. Foxconn owns 100% of the preferred and now 19% of the common shares. This tells shareholders the confidence Foxconn has in Lordstown motors and the MIH EV partnership established by both.
Many good things to come through this partnership.
You nailed it, but it's still trying to find a bottom.
Hightower needs to have something concrete. He said 3 weeks or so 2 weeks ago.
I heard prosperous news is on it's way but nothing confirmed.
Hightower, sometimes releases news on Saturdays and if he does, that again,
I hope it's a butte. There are many pokers now in the fire. Endurance is
just one of them.
It looks like my target of $.60 is almost here . I don’t expect to go under $.50 but you never know .
Lordstown Electric Work Truck - Everything You Need To Know | Startup Showcase
Basically the same situation I'm in. Unfortunately, I went in too deep because I believed that Steven Burns would never have lied the way he did (about multiple things; "firm" pre-orders, timeline to be in production, timeline for the truck to get NHTSA approval, value of the factory building and land, etc. etc.) and I'm sitting on a massive loss that I won't be able to recover from financially and has undoubtedly impacted my family's future negatively. And not only does he walk free, he walks free with tens of millions of dollars. That's the other casualty here - trust in our stock market & rule of law.
Good Luck, we're long and strong. No Fear Here.
Foxconn brings EV battery production to two U.S. states
https://www.teslarati.com/foxconn-brings-ev-battery-production-to-two-u-s-states/
Tue, March 21, 2023 at 3:22 PM EDT
Foxconn executive suggests company has new plans for Mount Pleasant campus: EV batteries and power storage.
Foxconn says it has invested more than $1 billion in the Racine County site.
Foxconn says it has has used the site for server and motherboard production, although customers have not been publicly identified. The company has been rumored to be assembling servers for Google.
Foxconn currently employs more than 1,000 people in Wisconsin and has received nearly $30 million in tax credits from the state in the last two years for meeting hiring and capital expenditure goals.
https://www.yahoo.com/lifestyle/foxconn-executive-suggests-company-plans-192243869.html
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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