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@Almosthere
I agree with that forecast…
If a OEM and other positive news comes in we should see $4.00-$5.00 quickly. I think that’s a fair target .
Time will tell, best to all!
WW
If this start in 1-2 weeks we will see 1.50-2.00.
OEM announcement 5.00!
All North American MIH EV parts/components/vehicles go through $RIDE Lordstown Motors.
***VIDEO- The Future of EV Ecosystem & Electric Mobility. MIH CEO | Jack Cheng, Lordstown Motors CEO | Edward T. Hightower, Monarch Tractor CEO | Praveen Penmetsa, INDI EV, VP of Administration | Frank Modiri
Excellent video! Lordstown Motors is "MIH EV" and the engineering behind the MIH EV evolution and platform. Whatever flows through the MIH EV system like Monarch Tractor or any other INDI EV, Lordstown Motors is the engineering brain box behind the product.
Every single unit that belongs to the North American MIH EV platform, flows through Lordstown Motors.
Check out the video where Hightower explains the nuts and bolts of the operation. It's a win, win for all involved.
If production does not start in 1-2 weeks then this sees the $.20 area like Mullen .
Maybe they will just scrap the Endurance file Bankruptcy and get another model going ?
https://jalopnik.com/foxconn-has-only-managed-to-make-about-40-lordstown-end-1850237549
In January, Lordstown asked Foxconn to suspend production because the cost of making the trucks exceeded the targeted sale price of $65,000. A few weeks later it became clear that the Endurance suffered from, well, a lack of endurance. At least one owner reported that the truck had lost power while driving in cold weather, prompting the company in February to issue a recall. Then on March 6, Lordstown said that if it can’t team up with an experienced automaker, it would be forced to discontinue the pickup, its only model.
You’re taking about RIDE. Numerous false starts. Unfortunately, there’s little entertaining about it. But I try.
I AM an investor. Doesn’t mean I stop calling them as I see them. I have integrity.
Only the Endurance accrues to RIDE in any substantial way.
Ford recall 1.5 million trucks, Rivian 200,000, Lordstown 5
CEO Hightower worked for GM and knows the consequences
of too fast, too soon and took their time before rushing production
for a quick bottom line adjustment to increase revenue.
CEO Hightower know's all about the system and dotting I's and crossing T's
Hightower made the right move to bring the Endurance to perfection
prior to mass production.
Ford and Rivian isn't so lucky.
Now the Endurance, Monarch and the Ind MIH, EV C are currently in production.
Edward Hightower
CEO & President
Lordstown Motors Corporation
When you’ve only built 40 trucks, the only place to scale is up. So what?
Ummm…no. Hub motors? Sure.
Almosthere,
Appreciate the link, seems “all about scale” is the mission here with FOXCONN and RIDE! Let’s see them turn this around and possibly be a leader in the field…
Best,
WW
Audio of Hightower interview. Enjoy!
Accelerated EV Adoption Requires Accelerated Innovation - Ed Hightower
https://schedule.sxsw.com/2023/events/PP1143609
Wonder who FOXCONN needs to lean on for expertise and experience with EV batteries?
LORDSTOWN MOTORS!
Minimally related to RIDE and the Endurance.
@ Watts Watt
Great article, refreshing and positive!
Appreciate the feed -!
Best,
WW
For a change, this is something relevant for investors to read:
https://www.teslarati.com/foxconn-brings-ev-battery-production-to-two-u-s-states/
RIDE stock is undervalued with enormous potential!
Doesn’t look like the peon calls of 0.50-0.60 are in the cards despite the negator banter.
Interview; The Future of EV Ecosystem & Electric Mobility. MIH CEO | Jack Cheng, Lordstown Motors CEO | Edward T. Hightower, Monarch Tractor CEO | Praveen Penmetsa, INDI EV, VP of Administration | Frank Modiri
Yes, disappointment and frustration is rife on this board. However the one feeling I truly have at this point, is that I want Steven Burns to face justice for the fraud he committed. This situation has shaken my faith in the U.S. financial system, and has exposed that the SEC is not trying to safeguard our interests or uphold law, so then why DOES it exist?
This situation has become a canary in the coalmine.
@ SavingGrace
Thanks for the video feed…
@.70 c I am scared to say what the future holds… I feel both sides, extreme disappointment and frustration like many on here, hopeful, yes, but I have NOT seen anything out of the Lordstown or FOXConn management team to feel otherwise..
I wish you the best, truly….
WW
…or the failure to find one.
Ooooh. 40 trucks. A distinction without a difference.
There is currently NO PRODUCTION. Meanwhile, employees are paid and the lights stay on. That $200M won’t last long.
Each day we are closer to an announcement from lordstown about and OEM.
You seem double minded. First you say no production. Now you say they produced 40.
Credibility is on the line.
Making plans. NOT making trucks.
BWAHAHAHA!!!!
Five out of how many produced? 40? Not to mention the 19?
BWAHAHAHA!!!!
Endurance Electric Truck - Lordstown Making New EV Plans
They already did by purchasing 100% of the preferred and 18% of the common purchased on the open market. Safety nets were also put in place to prevent dilution.
Foxconn is the top shareholder of RIDE and has placed two directors on the board.
Foxconn is Lordstown Motors.
40!?!?!?
Production is HALTED.
BWAHAHAHA!!!
If FOXCONN does resort to buying out Lordstown? IF
What is the number ? $$$$$
$3, $5 or the original entry point for them $6.89? Or $1
Another false statement. 40 vehicle have been produced, and 6 sold.
Somebody sounds desperate!
And no vehicle in production currently…or most likely ever. G&A will eat that $200M.
No bankruptcy. That is just misleading information with no substance behind it.
220 million on board and 100 million more coming from Foxconn says otherwise!
Foxconn believes in Lordstown - period!
There can be some short term fluctuations sure. But over the longer term it's obvious this company is on it's way into bankruptcy - as part of that, I'd expect some reverse splits coming soon in order to consolidate their losses while they're in the death throes. I wouldn't put a single dime more into this company personally.
Bull shit. Your misleading information is in direct contrast to the Feds guarantee and Chairman Youngs statements:
Taiwan’s Hon Hai Precision Industry Co. parked capital with investment funds that in turn funneled money into startups that banked with the California lender, Chairman Young Liu said. It’s now going through its books carefully but anticipates minimal impact since the Fed has guaranteed SVB’s deposits, he told reporters after reporting results Wednesday.
$1.50 or higher when Hightower announced production back in okay!
$5.00 or higher if he announces an OEM!
Stock is undervalued with enormous potential!
$.50 or lower is possible if LMC remains silent the next 2-3 weeks .
Bull Shit, RIDE has 220 million in the BANK!
Research! DD, RESEARCH! DD! Research! DD!
220 million in the BANK!
220 million in the BANK!
220 million in the BANK!
Foxconn already bought out 100% of the preferred and 18% of the common stock.
RESEARCH! DD, Research! DD SMH
They will be bankrupt by the end of this year. It remains to be seen if FC will buy them out to take ownership of the paltry amount of value in their "intellectual property" or just let them fail completely and continue on without them using a more conventional electric drivetrain for the MIH platform.
At least 50 cents or lower.
Production is still halted here and from what I gather it maybe another week to a month according to Hightower. Let’s say in 2 weeks before they resume production but that means 2 weeks of the PPS mostly tanking to new a low the next couple of weeks. $.60
Only one who needs to have their head examined is the one who bought at $2.40 and dumped for a huge loss.
What a guru!
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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