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It’s not looking good for LMC. I sold 90% of shares and glad that I traded this buying low and selling high at times took my average from $6 to $2.75 . I still took a loss selling at $2.04 . I’m expecting a surge in PPS because of the FOXCONN buying shares next week.
I’m in @$5.66 got in yesterday and already up 10% . This is most likely going to be the next Tesla or close to it. Market cap around 6 billion now . In 1023 PSNY should be a 20-30 billion market cap. $20-30 PPS in 2023.IMO
500 trucks x $70,000 = 35 million in revenue. Enough to carry them about one month. Look at Rivian they just lost 1.6 billion last quarter. The market is finally getting it now that EV manufacturers will burn a ton of cash.
I bought I few shares today @ $1.58 . Reason being is that Foxconn is buying shares at $1.76 on around November 22nd .
I just can’t see what 500 trucks will do in the next 8 months . Unless LMC can surprise the market but I see the stock hovering around $1.00 soon. IMO
https://insideevs.com/news/613518/lordstown-endurance-enters-production-only-two-trucks-made-so-far/
There is no doubt Steve Burns will get slapped by the SEC with a few million dollars for what he said with the pre-orders of the Endurance ( I remember him saying “ these are serious orders “) Hindenburg was right on when they came out with the report and forced Steve Burn to resign. It’s about time for Steve Burns to settle with the SEC. IMO
https://www.cnbc.com/video/2021/03/18/lordstown-motors-ceo-steve-burns-responds-to-allegations-from-short-seller-hindenburg.html
First $1.76 ….. Foxconn has to buy on or before November 22nd .
Steve Burns just sold another 16 million worth of stock in the past week. I hope this money is to pay the SEC. If not then selling around all time low is not a good sign. IMO
https://www.wfmj.com/story/47713615/former-lordstown-motors-ceo-sells-dollar162m-in-stock-over-one-week
The target is 120k vehicles for 2023 . If Polestar can meet this target then they will be profitable and PPS should go back to all time high of $16.00 in 2023. IMO
First it was 50 trucks for 2022 . Now is 30 trucks for 2022 and 500 trucks for 2023 and selling at a loss on every vehicle plus LMC has other models coming out. I am not surprised if Foxconn says to archive the Endurance but Steve Burns at least had a non-binding agreement for 100k Endurance and what happen with these non- binding deals at least could turn 20% of those orders to 20k Endurance trucks ? At least now LMC will not go bankrupt in 2023 they just have enough money now for another 12-15 months until further notice of upcoming orders . Look at Polestar they are on track to build 50k vehicles this year and are at least 4-5 years into being profitable. This is a just a reality check . Every EV maker wants to be like Tesla and the EV industry is getting very competitive in the next 2-4 years .
I don’t think Foxconn has bought at $1.76 yet . The PPS has to go down below $1.76 before November 22nd . ( that is 10 days from and lot can happen but most likely down and then up. ) IMO
“Pursuant to the agreements governing the Investment Transactions, at an initial closing expected to be held on or about November 22, 2022 (the “Initial Closing”), subject to customary conditions, Foxconn will purchase an aggregate of approximately 12.9 million shares of Common Stock at a purchase price of $1.76 per share “
This could be the next Tesla in the next couple of years once they have 3-4 new models out and are mass producing in 2026-2027 and now 50K Polestars for 2022 . 2023 targets ? 100k ?
I’m out @ $2.04 ….. I see this hitting new lows around $1.00 . Good luck !
After hours surge in PPS . Tomorrow should be interesting with earnings
Maybe RIDE has a run before earnings like last quarter to $3.70 ?
I wonder how many customers can LMC get from this list https://www.perillon.com/blog/21-companies-switching-to-electric-vehicle-fleets
Not looking good for the Ford lightning. The Endurance also has 20 inch wheels as opposed to Ford lightning 18 inch wheels in the same price range .
There are more reviews out there for the Endurance. The rece to for the finalist is looking good so far by a few jurors . If LMC wins truck of the year and beats FORD then watch out .
The legacy of corrupt companies continue.
https://www.reuters.com/legal/jury-orders-ford-pay-software-company-105-mln-trade-secrets-case-2022-10-27/
There are some buys right now in the EV sector . Look at NIO, LUCID, Polestar, CANOO , FISKER, NIKOLA and the list goes on . 2 -3 years from now you wish you own all of them .
$1.50 and under is still in play here . Possibly $1.21 area in November. 2 trucks built so far and no updates possibly until November 8th is when LMC updates shareholders.Maybe announce a reverse split If they can’t get financing soon.
It will be interesting to see how the Endurance does in Handling and towing being the first time anyone has judge a hub motors EV before
Still keeping my target of under $1.00. Sales are not happening in 2023 .
Best answer is money but you also are to take into consideration the COVID how it push companies to be delayed, by the supply and demand issue is happening to all auto makers also .Steve Burns production date was way off by 12 months or a year but without Foxconn there is no way LMC could had pull it off themselves. What would really move the PPS is secure funding of about 300 -500 million. IMO
“MotorTrend's Truck of the Year
The annual MotorTrend Truck of the Year award is MotorTrend’s choice of the best truck of the year. MotorTrend fully evaluates and performs instrumented testing on each truck that qualifies for the competition—including rigorous off-road, payload, and towing tests—and then selects the Truck of the Year award winner based on how well it performs in six key categories: safety, efficiency, value, advancement in design, engineering excellence, and performance of the intended function.”
https://www.motortrend.com/awards/best-truck-of-the-year/
LMC has enough financing until 2 or 3Q of 2023. Even if they build the 2500 trucks by half of 2023( this is income but not enough) by then new orders to build 10k in 2024 will need funding . Hopefully LMC get to sell hub-motors as an additional source of income. Other models are expected ( maybe a van ) . The JV partnership shots is being called by Foxconn so I would think it’s in the best interest the money come from Foxconn.
I don’t believe RIDE has what it takes to make this stock go “ Kaboom “ if you know what I mean. Not with the market the way it is now . From $30 PPS to $1.50 in 2 years and bouncing off the 52 week low 3 months ago it shows a slow way up from now. This is like the .com era where high market caps were given here being 5 billion market cap at all time high. I would really hope a earth shadowing kaboom event in the near future and that if the Endurance wins Truck of the year and RIDE gets financing let say at least 300-500 millions and maybe a kaboom but don’t hold me to it. That is why RIDE is at $1.63 today. Still a lot to prove to Wallstreet.IMO
I wonder what Steve Burns will get from the SEC ? Trevor Milton from Nikola got up to 25 years .’most likely be out in 3-5 years living in a house with all amenities.
Friday October 14th:
“Nikola (NKLA) founder Trevor Milton was found guilty of three counts of criminal fraud on Friday in a case accusing him of spreading lies about the electric truck startup for his own personal benefit.
A federal jury in Manhattan found Milton, 40, guilty of two counts of wire fraud and one count of securities fraud, with the top charge carrying a prison sentence of up to 25 years, according to Bloomberg and other news reports. Milton pleaded not guilty to all of the government’s charges.”
This is what the Endurance is being tested for 2023 Truck of the year semifinalist.
“MotorTrend judges its Truck of the Year based on six important criteria: safety, efficiency, value, advancement in design, engineering excellence, and performance of intended function.Dec 13, 2021
Safety ranking 5 highest
Efficiency: 250 miles ? Not too good
Value : around 55k . Not bad
Advance in design: good to excellent
Engineering : good to excellent
Performance: excellent
Overall score : High ….. IMO
NASA ?
NASA said in a blog post: "Application of this new technology resulted in unprecedented reduction of the time required to charge a vehicle and may remove one of the key barriers to worldwide adoption of electric vehicles."
Is this one of the biggest scam’s within the EV industry? Or is this for real ? I don’t know anymore
The future is here with the battery technology
https://www.businessinsider.com/evs-nasa-charged-electric-car-5-minutes-tech-2022-10
The all-electric Endurance Pickup is the flagship model of the EV company. Some experts believe that investing in Lordstown Motors Corp. (NASDAQ:RIDE) right now is like investing in Tesla around a decade ago. Lordstown Motors Corp. (NASDAQ:RIDE) could be a multibagger stock in the coming years, making it one of the best EV stocks to buy now. To overcome challenges related to capital and liquidity, Lordstown Motors Corp. (NASDAQ:RIDE) has reached an agreement with Foxconn that will secure the funding for mass production capabilities. Lordstown Motors Corp. (NASDAQ:RIDE) is expected to sell 2,500 Endurance pickups in 2023, 10,000 units in 2024, and 80,000 units by the end of the decade.
https://finance.yahoo.com/news/12-best-ev-stocks-buy-130821888.html
Motley Fool
A rival's recall dings the EV-company's shares.
What happened
Lordstown Motors (RIDE -4.82%) is not Rivian Automotive (RIVN -7.28%), but on Monday, it had to pay for the apparent mistakes made by its peer, which also makes electric vehicles (EVs). After Rivian announced a major recall, Lordstown stock fell by 4.8%, in sympathy.
So what
Rivian's recall, due to a possible loose wheel fastener that could threaten the driver's control over steering, is a big deal on paper. It covers 12,212 vehicles produced from Dec. 10, 2021 to Sept. 27, 2022. That number comprises the vast bulk of the 13,198 deliveries the company has made so far this year, although it believes only roughly 1% of the recalled products might have the fastener problem.
Never say never again . …..The whole EV sector market is down in the last 30 -90 days. Look at Canoo GOEV. Fisker FSR and others are all down .I don’t know what Wallstreet is doing but shorts are getting filthy ritch.
In October 2019 NIO was hovering around $1.50 right before production and then surge to $60 in 2020 .An now we have the co-founder Jack Cheng who is the CEO of MIH platform for Foxconn as an advisor. Having Foxconn as a partner in the JV calling the shots with 55/45 partnership LMC is in a good position to succeed. IMO
Let’s RIDE . 10.18.2022
“ Strong belief in the future RIDE back up “
I agree 100%
Work for it .