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When will we see an Episode of American Greed here ?
$.50 12 month target from Goldman Sachs . $.25 is very possible now in the near future
https://www.tickerreport.com/banking-finance/10424687/the-goldman-sachs-group-cuts-lordstown-motors-nasdaqride-price-target-to-0-50.html
I expect more downside here around $.70 next week . The PPS is starting to look attractive now.
Trevor really did it to you long shareholders… oh boy
Looking for an entry here around $.70 or lower
Foxconn still needs to prove themselves as competition is heating up .Rivian has their own factory but burning cash like crazy and so is Lucid.
Glad I sold here when there was surge in PPS . I was thinking of and entry level at $,60 but I change my mind on this and have an entry for when they declare Bankruptcy for just a swing play This company will not survive unless Foxconn buys them out completely. Foxconn will have to invest about a billion to get this going again but the way I see it Foxconn will buy this for pennies on the dollar. IMO
This is starting to look good for an entry level. 12 month target seems to be $3.00 . More downside ?
Ninnivaggy is to blame also. He seem to pass the responsibility to Hightower who put together the last finance deal with Foxconn. When you look at the market is really getting saturated with EV’s now. Ford , GM, Toyota , BMW plus all these new EV startups are ramping up.
Stephen Burns said “these are serious orders “‘ when he mentioned the reservations of the Endurance. And yes he should be prosecuted. I believe the reason the SEC has not said anything is because of the share price being so low. Also the SEC will not only fine Burns but LMC as well . It’s been 2 years since the Hindenburg research came out . Hindenburg was right on about 80% or so.
Question here , why buy at $1.20 when the offering is at $1.12 and you can have a buy limit order for $1.13 ?
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.
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