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I am not surprised. The reverse split is up to shareholders voting approval.
It looks like my target of $.60 is almost here . I don’t expect to go under $.50 but you never know .
I’m in with a starter here ! This is close to bottom. Polestar is making EV’s not like other EV’s out here and competition is getting heavy . I can see this with a market cap of 20 billion + in a couple of years
This looks like a good entry point here at $3.55 . This was just $8.00 not long ago . What has change ? I believe the market with inflation and now these bank issues, China competition and lowering pricing of EV’s
I found a post on stocktwits which makes a lot of sense .
“muck 30 11:24 AM
$RIDE What is LMC's value to FoxConn? They are their only partner so far to have homologated and brought a certified EV platform to market in the US. The MIH consortium needs that experience for their Project X initiatives and LMC is at the ground floor of designing the chassis for each of that project's platforms. MC's business model should just be a supplier of chassis for the
3-seater, 6-seater, and 9-seater platforms and take purchase orders from up fitters who want to their own commercial body slapped on an MIH platform. Turn profit there first and establish a customer base with up fitters and then reintroduce an Endurance branded pickup on that same platform at a later date when they got better cash flow. Bullish”
There in NO pucking way it takes 2 months to fix recalls on 19 trucks and especially when it’s a voluntary recall . At max one to 3 weeks . Something here is very , very fishy and it stinks !
Does it really take that long to fix the issue at hand ? Really ?
LORDSTOWN, Ohio, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Lordstown Motors Corp. (Nasdaq: RIDE), (“Lordstown Motors,” “LMC” or the “Company”), an original equipment manufacturer (OEM) of electric vehicles focused on the commercial fleet market, today announced that it will release its fiscal year 2022 financial results before market open on Monday, March 6, 2023. The Company will then host a conference call at 8:30 a.m. Eastern Time.
Lordstown Motors Corp. also announced today that it has experienced performance and quality issues with certain Endurance components that have led the company to temporarily stop production and customer deliveries since our last production update in January. The team is diligently working with suppliers on the root cause analysis of each issue and potential solutions, which in some cases may include part design modifications, retrofits, and software updates. In this regard, LMC has filed paperwork with the National Highway Traffic Safety Administration (NHTSA) to voluntarily recall the Endurance to address a specific electrical connection issue that could result in a loss of propulsion while driving. Lordstown is working with its supplier network to implement a corrective action that the Company believes will address this issue. The recall will affect 19 vehicles that are either in the hands of customers or being used internally by LMC. Vehicles waiting for shipment and vehicles in process at the manufacturing plant will also be retrofitted with the corrective action once components are available.
“While our experienced team has made significant progress in addressing the underlying component and vehicle sub-system issues affecting the Endurance build schedule, we remain committed to doing the right thing by our customers and to resolve potential issues before resuming production and customer shipments,” said Edward Hightower, Lordstown Motors CEO & President. LMC intends to provide a more detailed update on the status of these matters on its upcoming earnings call.
I believe that the Endurance will be put aside for a while and LMC is going to focus on the Hub motors to sell to other auto manufacturers. LMC did disclose to Foxconn that they wanted to scrap production but Foxconn said no. The silence here tells me that LMC is regrouping fast to save from going BK. IMHO
https://businessjournaldaily.com/former-lordstown-motors-ceo-sells-off-more-stock-brings-net-total-to-59m/
Only in America ! White collar crime to its fullest . Where is the SEC ? Oh yeah watching porn !
http://www.cnn.com/2010/POLITICS/04/23/sec.porn/index.html
I found this in Google:
“Lordstown EV Startup Has Halted Production and Is Fixing Problems
Lordstown Motors has halted production of the Endurance electric pickup truck, citing issues with supplier components.
The truck has been in production since last fall, with Lordstown planning to assemble about 500 units with current funding.
More items...•Feb 24, 2023 “
Supplier components issues ? Really ? For 500 trucks ..LMAO !
It’s nice to dream but when you wake up to reality the chances of LMC scrapping the Endurance is still possible . Who is going to pair up with them in this market right now ? .it’s more like a lottery ticket now with your odd of 1000 to 1 .Good luck
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.
Yep ! It looks like bright skies from here ! Back to $4.00 soon !
$.50 or lower is possible if LMC remains silent the next 2-3 weeks .
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
LMC can’t make it on their own and even with Foxconn unless Foxconn bails them out and gives them more financing. LMC most likely will be force to reverse split get the PPS higher and dilute the stock further.
Not for very long . They don’t have enough money to build 2500 trucks . Only money for 500 but no one seems to buying fleet trucks now and LMC came in to #3 truck of the year ? Something doesn’t seem right. The longer management waits to release news the more this will tank . I’m sure this is close to bottom . My target is $.60
What’s up with the other 34 trucks built?
Lordstown Motors said Monday that despite delivery delays and larger losses than expected in Q4, it has about $220M in cash and ain't scared. Since the EV start-up went public, supply costs and challenges have made even well-established OEMs change their footing.
“Lordstown is now looking at a contract with Foxconn on a new EV program while working to resolve issues with its Endurance pickup truck. To date, the brand has built around 40 trucks and delivered 6. “
https://www.asotu.com/article/lordstown-has-cash-and-a-plan-volvos-electric-cement-and-honda-marching-to-its-own-drum
Steve Burns cashed out 59 million dollars in the last 12 months . I don’t think he has made this much in his life in one year. And he is a free man ! Only in America!
Steve Burns sold at $.87 …. When next $.47 ?
https://www.salemnews.net/news/neighborhood-news/2023/01/burns-sheds-more-lmc-stock/
I believe so but the way this market is headed and Production still halted there is only one way but down unless you get some news. IMO
$RIDE reiterated to SOLD !
https://bidaskclub.com/news/company/2023-03-07/RIDE
$.60 is my target here 140 million bare bones market cap .Steve Burns cashed out about 59 million dollars so far and still no indictments by the SEC. I believe soon the SEC will act but is taking way too long here.
This is news from November 7th 2022. They need more money this little hiccup in production most likely cost them over 20 milllion . IMO
At $.25 would put LMC at around a 50 million market cap . $.60 is a bit more reasonable puts the market cap around 120 million. This may get a jump to $1.00 soon but the downside is greater now with production halted. IMO
You are welcome ! At this point it’s very difficult to say because they are running out of money to even build 2,500 trucks and Hightower has not had any good news unless there is something in the works but first they have to solve the issues at hand and get mass production going if not then just hand the keys to Foxconn and possibly have the Endurance mass produce or toss in the burner since they have a truck and possibly make money on the hub motors
I smell dead fish here
Not only Steve Burns sold in the $1.80 and also sold in the $5’s 4’s and $3’s and he is a free man enjoying his millions . I guess the SEC did not find anything or is the SEC afraid to come out and LMC loses another 30% Market cap to under $.50 . .$.25 is very possible now.
Yes for $6.89 and Steve Burns sold in the $1.80 area and I was thinking that he would regret it but he was laughing all the way to the bank with over 20 million dollars in his pocket the last 12 months. All long shareholder are in the poor house .
For $.50 ?
Halted ! Not the stock but production . $.60 target
Yep ,minimum 12 month target is $3.00 and the high is $8.00 I believe. This last deal with Merk is very good 900 million deal if all milestones are met .
Not many loyal shareholders left here. I see a great opportunity to capitalize on the recent news with Merk Pharmaceuticals. The other catalyst is NGENLA approval in the US. This should put the PPS $2.00 ++ .IMO
I believe Canoo can hit a medium target if they get their ducks in row. Still no earning announcement ( although they have not sold a EV yet ) the CEO is stuck here and needs to be replaced. This company is in the verge of going BK or making it really big. Walmart should just buy them out . IMO
Rebounding to $10.00 ? Lol how about rebounding back to $1.50 -$2.00. Ninivaggi toss the ball to Hightower and I wonder when Hightower is going to toss the ball to someone else ? Where is this company’s integrity?
Minimum target of $2.40 $OPK $$$$$
https://www.wallstreetzen.com/stocks/us/nasdaq/opk/stock-forecast
From the yahoo board :
“The biggest take aways for me were during the Q&A session when the J.P.M. moderator asked what were the things that Dr. Zerhouni was looking forward to in 2023. He mentioned BRL returning to profitability, the FDA approving NGENLA (I heard that the approval would trigger multiple milestones), and ModeX forming ventures with other companies. “