Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Opening of new Asian Pacific Operations Center (APOC) and reiteration of beginning van production later this month (that's just 2 weeks away, max).
http://ih.advfn.com/stock-market/NASDAQ/electric-last-mile-solut-ELMS/stock-news/86067817/electric-last-mile-solutions-announces-opening-of
------------
And this news blurb from SeekingAlpha.com:
Electric Last Mile Solutions opens new operations center in Shanghai
07:44 AM | Electric Last Mile Solutions, Inc. (ELMS) | By: Preeti Singh, SA News Editor
• Commercial electric vehicle (EV) company Electric Last Mile Solutions (NASDAQ:ELMS) has opened a new Asia Pacific Operations Center (APOC) in Shanghai, China.
• The new facility, to be overseen by ELMS Chief Operating Officer Jerry Hu, will serve as a hub for supply chain and logistics management, engineering operations, project management and quality functions. The Shanghai team will work closely with ELMS’ suppliers and be fully integrated with the firm's global headquarters in Troy, Michigan.
• James Taylor, ELMS CEO, said, "Combined with our global team in Michigan, APOC will allow ELMS to improve supplier engagement, increase our speed to market and efficiently execute our unique business plan. To support our aggressive growth plans, we fully expect APOC to exceed 100 employees by the end of the year."
• In other news, ELMS will begin production of its Urban Delivery Class 1 commercial EV later this month at its Mishawaka, Indiana production facility.
All those investment banks and analyst firms to be visited are already covering ELMS; i surmise it will give a chance for CEO Taylor and team to update the analysts on ELMS' progress.
Geez, another "sell the news" trading day.
Guess the market won't be excited until first vans are actually rolling off the assembly lines and supply-chain constraints have lifted somewhat.
Or maybe the stock will only move if/when a big-name investor takes a big position here....
ELMS - Excellent news on passing the NHTSA impact safety tests. Mgmt also confirms that first commercial vehicles will roll out by end of this qtr.
ELMS Announces Successful Completion of Next Critical Milestone for Start of Production
https://ih.advfn.com/stock-market/NASDAQ/electric-last-mile-solut-ELMS/stock-news/85995118/elms-announces-successful-completion-of-next-criti
Electric Last Mile Solutions, Inc. (Nasdaq: ELMS or ELMSW) (“ELMS” or “the Company”), a pure-play commercial electric vehicle (“EV”) company focused on redefining productivity for the last mile, today announced that it successfully completed structural confirmation impact testing for its Urban Delivery commercial class 1 vehicle. With this phase complete, the body design has been frozen. Testing took place at the NHTSA validated Calspan facility in Buffalo, NY.
James Taylor, ELMS CEO, said, “Passing these tests is not only a testament to our ability to design and engineer leading safety systems specific to commercial EVs, but it is also a critical milestone as we move towards full regulatory approvals, production and delivering our first vehicles to customers.”
“Incorporating our all new, ELMS-engineered, patented, front bumper energy absorption system along with a series of structural reinforcements allowed the Urban Delivery to meet federal safety testing standards,” added Praveen Cherian, ELMS Vice President of Engineering. “I am extremely pleased with the results of the confirmation test and proud of our global engineering development team at ELMS for their innovative thinking and methods that helped us deliver robust results in a very compressed timeline. This was certainly no ordinary achievement especially being the first Commercial Class 1 EV engineered for the US market.”
ELMS plans to launch introduction models of the Urban Delivery electric vehicle in the U.S. market beginning late in the third quarter. Production will occur at the Company’s plant in Mishawaka, Indiana.
Most excellent news--time to roll out those vans and impress the market with this valuable product!
https://ih.advfn.com/stock-market/NASDAQ/electric-last-mile-solut-ELMS/stock-news/85945024/electric-last-mile-solutions-to-reveal-medium-duty
Electric Last Mile Solutions to Reveal Medium Duty, All-Electric Urban Utility Vehicle
August 31 2021 - 07:00AM
GlobeNewswire Inc.
Electric Last Mile Solutions, Inc. (NASDAQ: ELMS; ELMSW) (“ELMS” or “the Company”), a pure-play commercial electric vehicle (“EV”) company focused on redefining productivity for the last mile, today announced that it will unveil its medium duty, all-electric Urban Utility vehicle this week at the NAFA Institute and Expo in Pittsburgh.
“The Urban Utility boasts the ultimate combination of customization and connectivity for last mile delivery requiring medium duty vehicles,” said ELMS CEO James Taylor. “This is a major milestone in production as we expand the ELMS portfolio of all-electric commercial vehicles to help our customers to meet – and exceed – their fleet sustainability goals.”
Production for the Urban Utility is expected to begin in 2022. It will be manufactured alongside ELMS’ Class 1 all-electric Urban Delivery, which begins production later this quarter at the company’s facility in Mishawaka, Indiana.
“We couldn’t think of a more ideal place than NAFA to reveal our medium duty, all-electric Urban Utility for the first time,” said ELMS Chief Revenue Officer, Ron Feldeisen. “The NAFA Expo brings together the largest contingent of fleet professionals in the country and our customers will have the opportunity to see the vehicle up close.”
About Electric Last Mile Solutions, Inc.
Electric Last Mile Solutions, Inc. (Nasdaq: ELMS; ELMSW) is focused on defining a new era in which commercial vehicles run clean as connected and customized solutions that make our customers’ businesses more efficient and profitable. ELMS’ first vehicle, the Urban Delivery, is anticipated to be the first Class 1 commercial electric vehicle in the U.S. market. The company is headquartered in Troy, Michigan. For more information, please visit www.electriclastmile.com.
ELMS -- WorthyLion, in reply to your Q, technically things are looking a bit better in recent days after all the prior weeks of damage. Four straight green days allowed the stock to pull away from the lower Bollinger band though on Friday it hit some resistance at the descending 9dma at 7.81, MACD has turned up to start crossing its lagging line, accum/distrib indicator has turned up a bit.
The $7.20s could be the bottom where shorts feel they've earned enough to start covering.
Frankly, i've been concerned by the container-shipping problem, but it's certainly not unique to ELMS, and that seasoned group of execs likely have some backup suppliers in place in other countries in case things really get gnarly with containers coming out of China.
I think the stock will get a boost from 1) upcoming safety certifications, 2) first production (promised for late Sept., maybe early Oct.), and 3) confirmed order news from any big buyers like those FedEx regional franchise operators.
The shipping bottleneck looks to be the biggest factor constraining so many cos. including ELMS, at least until sometime into 2022, it appears. I'm hoping the really veteran, experienced mgmt talent at ELMS can find ways to mitigate some of the problem.
https://www.latimes.com/business/story/2021-08-25/supply-chain-problem-port-delays
BUSINESS
The world’s supply chain problem keeps getting worse
The cost of sending a container from Shanghai to Los Angeles has grown more than sixfold since May 2020, according to one report.
BY CINDY WANG AND ENDA CURRAN
BLOOMBERG AUG. 25, 2021
A supply chain crunch that was expected to be temporary now looks like it will last well into next year as the surging Delta variant upends factory production in Asia and disrupts shipping, posing more shocks to the world economy.
Manufacturers reeling from shortages of key components and higher raw material and energy costs are being forced into bidding wars to get space on vessels, pushing freight rates to records and prompting some exporters to raise prices or simply cancel shipments altogether.
“We can’t get enough components, we can’t get containers, costs have been driven up tremendously,” said Christopher Tse, chief executive of Musical Electronics Ltd., a Hong Kong company that makes consumer products including Bluetooth speakers and Rubik’s Cubes. Tse said the cost of magnets used in the puzzle toy has risen by about 50% since March, increasing the production cost by about 7%. “I don’t know if we can make money from Rubik’s Cubes because prices keep changing.”
China’s determination to stamp out COVID-19 has meant even a small number of cases can cause major disruptions to trade. This month the government temporarily closed part of the world’s third-busiest container port at Ningbo for two weeks after a single dockworker was found to have the Delta variant. Earlier this year, wharves in Shenzhen were idled after the discovery of a handful of coronavirus cases.
“Port congestion and a shortage of container shipping capacity may last into the fourth quarter or even mid-2022,” Hsieh Huey-chuan, president of Taiwan-based Evergreen Marine Corp., the world’s seventh-biggest container liner, said at an investor briefing Friday. “If the pandemic cannot be effectively contained, port congestion may become a new normal.”
The cost of sending a container from Asia to Europe is about 10 times higher than in May 2020, while the cost from Shanghai to Los Angeles has grown more than sixfold, according to the Drewry World Container Index. The global supply chain has become so fragile that a single, small accident “could easily have its effects compounded,” HSBC Holdings said in a note.
Higher freight rates and semiconductor prices could [not “could” but WILL] feed into inflation, said Chua Hak Bin, senior economist at Maybank Kim Eng Research in Singapore. In addition, producers including Taiwan’s Giant Manufacturing Co., the world’s biggest bicycle maker, say they will raise prices to reflect the increased costs.
In the U.S., forecasters have lowered growth projections for this year and lifted inflation expectations into 2022, according to Bloomberg’s latest monthly survey of economists. Compared with a year earlier, the personal consumption expenditures price index is now expected to rise 4% in the third quarter and 4.1% in the fourth, double the Federal Reserve’s 2% goal.
Hong Kong coffee-machine maker Eric Chan doesn’t see the crunch easing for months as he juggles a supply line that involves hundreds of components to meet booming demand for kitchen appliances. “We are storing up critical components for one year of usage because if we miss one component, we cannot manufacture the products,” said Chan, chief executive of Town Ray Holdings Ltd., which gets 90% of sales from household brand names in Europe.
The spread of the Delta variant, especially in Southeast Asia, is making it difficult for many factories to operate at all. In Vietnam, the world’s second-largest producer of footwear and clothing, the government has ordered manufacturers to allow workers to sleep in their factories to try to keep exports moving.
Even mighty Toyota Motor Corp. is affected. The automaker warned this month it will suspend output at 14 plants across Japan and slash production by 40% due to supply disruptions, including chip shortages.
On the other side of the planet, companies in the United Kingdom are grappling with record-low levels of stock and retail selling prices are rising at the fastest pace since November 2017.
Germany’s recovery is also under threat. A key measure of business confidence in Europe’s largest economy, released Wednesday by the Ifo institute in Munich, fell by more than economists had predicted. The drop was blamed in part on shortages for metals, plastic products and semiconductors, among other goods.
At the heart of the price pressures is the transportation bottleneck.
Big retailers tend to have long-term contracts with container lines, but Asian production relies on networks of tens of thousands of small and medium-size producers that often arrange shipping through logistics firms and freight forwarders. They in turn have been struggling to secure space for clients as vessel owners sell to the highest bidders.
Some 60% to 70% of shipping deals on the Asia-to-America route are done through spot or short-term deals, said Michael Wang, an analyst at President Capital Management Corp. He said auction-style pricing may continue until Chinese New Year in February 2022.
Buyers agree. In Germany, more than half of the 3,000 companies polled by the Assn. of German Chambers of Industry and Commerce expected widespread supply-chain problems to persist into next year.
“Now container liners don’t sign long-term agreements, and most deals are done by spot prices,” said Jason Lo, CEO of Taiwanese gym equipment maker Johnson Health Tech Co. He said it was becoming impossible to estimate shipping costs and do financial planning, but “we have no choice.”
Colin Sung, general manager of World-Beater International Logistics Co. in Dongguan, said one client had more than 70 containers of goods sitting at a warehouse in Shenzhen because his American buyer didn’t want to pay the shipping cost. Sung said 60% to 70% of his clients have cut shipments due to rising costs.
For Asian factories outside China, the problem is even worse. Many Chinese companies are willing to pay above-market rates to load their cargo, said a spokesman at HMM Co., South Korea’s biggest container line. So when the ships call at ports outside China, they’re already almost full.
Chinese companies that spent decades shifting production of lower-value components to cheaper labor markets in South and Southeast Asia now face the headache of trying to get those parts to factories where they can be assembled into finished products. “We are talking about a lot of money just to move things around,” said Sunny Tan, executive vice president of Luen Thai International Group Ltd., which makes clothing and leather handbags for global brands.
As factories succumb to lockdowns, manufacturers are forced into a game of Whac-a-Mole, switching raw materials from one country to another. Some have resorted to air-freighting materials such as leather to factories to keep production lines rolling.
Meanwhile, Luen Thai’s Tan, who is also deputy chairman of the Federation of Hong Kong Industries, is trying to figure out how he’ll fill festive display windows in time for Christmas. “I wish when shoppers see our product they give it a kiss when they realize how difficult it was just to get it to the shelf.”
>We should hear news of their safety certification next.
I would think such news would pop ELMS back up to over $10, but WTFDIK?
A lot of the trading action in recent weeks, chart-wise, looks very much to me like one of those algo-driven selloffs since the stock failed on Aug 6 to surpass a key upper resistance level, in this case the exactly conjoined 9- and 26-day-moving-averages that are important in Ichimoku Cloud technical analysis.
Those averages were joined at 10.50 and ELMS that day went right up to 10.47 then turned around to plunge for the rest of the day and begin its really fugly descent for 9 of these last 12 trading days, negatively reinforced by the ER news on Aug 12 that initial Fall production would only be 1k vans, not 4k.
The stock for the past several days has been hewing closely to the descending lower Bollinger band. When the selling is exhausted, the algos may get "permission" to help the stock rebound on the good news prospects and/or all those analyst "buy" recommends with PTs mostly double or more higher from here.
Gotta agree with you, one fugly chart. I'm hoping this is the last trading day down at the lower Bollinger Band, but i could be wrong and it goes lower. I'll just have to buy more shares. But avg-ing down has its reasonable limits!
Please be aware that the entire smallcap sector is "taking it on the chin," as a Marketwatch newsblurb put it today. Take a look at chart for the IWM (Russell Small-Cap index).
And within that smallcap index, most EV names have been hit especially hard (see PTRA, ZEV, LEV, WKHS, FFIE, QS). So a lot of the selling on ELMS is just indiscriminate.
Let's face it: ELMS for many months has been a plaything for the HFT algorithms.
ELMS is gradually, bit by bit, coming onto the radar screen of EV investments. I bet that 95% or more of investors in the sector still don't even know the ELMS name.
With first production of the Urban Delivery vans, though, i think a lot of folks will wake up to this name.
In this blurb from SeekingAlpha synopsizing Wedbush analyst Dan Ive's recommended buys for the EV sector, ELMS is picked as best commercial last-mile play:
https://seekingalpha.com/news/3731678-tesla-hyzon-and-electric-last-mile-headline-wedbushs-dream-team-of-ev-stocks
Tesla, Hyzon and Electric Last Mile headline Wedbush's dream team of EV stocks • SeekingAlpha.com 8/17/21 9:32 PM
• Wedbush Securities says its Green Tidal Wave thesis is still in play as it forecasts EVs will represent 10% of total automobile sales by 2025 and rise to 20% by 2030. The confidence follows a rough patch for EV stocks as some of the euphoria over the U.S. election and prospects for EV support have faded in the face of growing pains.
• Analyst Dan Ives and team see upside beyond just Tesla (NASDAQ:TSLA).
• "Clearly, it’s not just the OEMs that have a massive potential growth opportunity ahead, but the whole supply chain is being built out for the EV landscape from charging stations, battery players, recycling, raw materials, and the broader grid build-outs both domestically and internationally for the coming years," writes analyst Dan Ives on the setup for the sector.
• Why is the EV sector stuck in reverse lately? Ives thinks the global chip shortage, the pre-revenue status of many electric vehicle companies [ELMS will be earning revenues within several months], increasing competition from new and old players [ELMS has zero-competition for the next year or two] and an overall risk-off Street vibe has impacted sentiment.
• Looking ahead, Wedbush advises that the best way for investors to play through the volatility is through a basket of EV stocks across sub-sectors.
• Favorite Overall EV Name: Tesla (TSLA)
• Favorite Disruptive EV OEM: Faraday Future Intelligent Electric (NASDAQ:FFIE)
• Favorite Commercial Last Mile Name: Electric Last Mile Intelligent Electric (NASDAQ:ELMS)
• Top Hydrogen /Long Haul Trucking Play: Hyzon Motors (NASDAQ:HYZN)
• Favorite Auto Stalwart Transitioning to EV: General Motors (NYSE:GM) followed by Volkswagen (OTCPK:VWAGY).
• Favorite China EV Names: Nio (NYSE:NIO) and Xpeng (NYSE:XPEV).
• An even broader way to play EVs is through the Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV), KraneShares Electric Vehicles and Future Mobility Index ETF (NYSEARCA:KARS) or Ideanomics NextGen Vehicles & Technology ETF (NYSEARCA:EKAR).
Bears & shorts thus far have been extremely lucky with this one, benefitting from 1) the SPAC selloff by big money back in Feb-March; then 2) the SPAC attack waged by the SEC (forcing SPACs to re-price warrants) causing merger delays; 3) then the shipping logistics quagmire out of China; 4) the misunderstanding of the S-1 filing; and 5) market weakness in smallcaps.
No wonder ELMS stock is wallowing down at these prices, despite the "overwhelming demand" for the company's products and absolutely bullish future seen by every analyst who's examined ELMS and its prospects. Patience will be rewarded here.....
But in the meantime: Ouch!!!
Another down day for the EV sector, ELMS being indiscriminately sold off like PTRA, LEV, QS and others...
ELMS - Interesting "color" from CEO James Taylor toward end of conf. call about the surprisingly much larger TAM (total addressable market) for the ELMS Urban Utility van besides its proven demand from FedEx, Amazon, Walmart, handymen, cable/dish tv contractors, plumbers, florists, grocers, et al:
Analyst Jeffrey Osborne (Cowen & Co.):
[...] my follow up question was on the market for the vehicles that you'll be producing in September and October [in the "first channel" of production] before that November [safety] certification. I saw the press release on U of Notre Dame -- things like zoos, college campuses, people that are on private roads, slow speeds. Can you just articulate what you think the size of that market is? Is it anything that's in your backlog or hand raisers [interested buyers] and more importantly what percentage of that is the 1000 units that you expect for the year in the event that there's a delay in the November certification. I'm just trying to get a sense of what can be achieved without that certification?
CEO James Taylor
I think we've been, to be honest, Jeff, very surprised how huge this market is, because it's not the mainstream markets. It's not well documented, or not much data that records this. But as we just get into a few examples, even just a few of these universities, and [when we ask them] so how big is your fleet? -- it turns out 1000s. It's quite remarkable. Then you might multiply that by, even just in the university vertical, the number of universities, it gets up extremely high in the six figures quickly, and you go to the ports, then you go to the airports and the leisure facilities (let's call them)-- and all of a sudden, this thing has been mushrooming on us.
So what we thought might be a limited market and might be a limited window of availability has turned out to be a completely parallel market stream for us to address. That's above the typical quality and features of the LSV [low speed vehicle] markets that are there now--these sort of open [structured] off-road vehicles--into something that's of course more capable like ours [our Urban Delivery vans]. So yes, we're thinking [just] this market is in the hundreds of 1000s.
Interesting "color" from CEO James Taylor toward end of conf. call about the remarkably larger TAM (total addressable market) for the ELMS Urban Utility van besides its already proven demand from FedEx, Amazon, Walmart, handymen, cable/dish tv contractors, plumbers, florists, grocers, et al:
Analyst Jeffrey Osborne (Cowen & Co.):
[...] my follow up question was on the market for the vehicles that you'll be producing in September and October [in the "first channel" of production] before that November [safety] certification. I saw the press release on U of Notre Dame -- things like zoos, college campuses, people that are on private roads, slow speeds. Can you just articulate what you think the size of that market is? Is it anything that's in your backlog or hand raisers [interested buyers] and more importantly what percentage of that is the 1000 units that you expect for the year in the event that there's a delay in the November certification. I'm just trying to get a sense of what can be achieved without that certification?
James Taylor
I think we've been, to be honest, Jeff, very surprised how huge this market is, because it's not the mainstream markets. It's not well documented, or not much data that records this. But as we just get into a few examples, even just a few of these universities, and [when we ask them] so how big is your fleet? -- it turns out 1000s. It's quite remarkable. Then you might multiply that by, even just in the university vertical, the number of universities, it gets up extremely high in the six figures quickly, and you go to the ports, then you go to the airports and the leisure facilities (let's call them)-- and all of a sudden, this thing has been mushrooming on us.
So what we thought might be a limited market and might be a limited window of availability has turned out to be a completely parallel market stream for us to address. That's above the typical quality and features of the LSV [low speed vehicle] markets that are there now--these sort of open [structured] off-road vehicles--into something that's of course more capable like ours [our Urban Delivery vans]. So yes, we're thinking [just] this market is in the hundreds of 1000s.
Poster "Ytho" over at Stocktwits neatly summarized numerous points from yesterday's CC:
$ELMS Q2 Conference call highlights 1/2
*Highlights*
--$200M confirmed orders with Randy Marion for the next 12 months, ~6000 trucks
--Increase in price to $34500 with no pushback, compressed margins (low single digit) due to raw material costs and logistics issues.
--Almost ready to produce, just need 3-4 more people
--New potential parallel market in university fleets, “hundreds of thousands” of trucks (like Notre Dame Univ)
--First [production] channel ready to launch, full vehicle crash testing not necessary
--Full crash testing will finish Nov '21
--Cash balance of $271M, FY21 expenses $75-80M
--ELMS Targets a Launch+90Day target, where supply chain should be fully operational then.
--50 vehicles for September, estimates 500-1500 vehicles into Q1 22.
--September vehicles are package delivery, light upfitting likely by Adrian.
--Management says “So in that first group of those, the full vehicle crash testing, as you call it, is not necessary”.
--Can ship with current specification.
--3 full crush tests scheduled.
--Plant manager is Brian Tim,
--Launch with 35 people and 6 stations.
--2022 ramp will be 50-75 people with 17 stations and 15 modules.
--Container costs are 3-4 times higher but pursuing contract rates and shipping efficiency.
--Taylor told an analyst a 3-4 multiple on the SPAC deck info may be a bit low.
--So far 30-32 drives at different locations, scheduled demonstrations.
--Food trade show coming up where they will show the Thermo King prototype.
ELMS - i agree on it being a strong buy for longer term hold down at any sub-$8 prices.
Among other things from the CC this afternoon were the revelations that ELMS will have a run-rate of producing 1500 vans by start of Q1 22 (Jan.), which should easily allow ELMS to hit their target of 19K vehicles produced for 2022.
There's been "no pushback" from customers on the need to raise the delivery van's cost from $32.5K to $34.5K to compensate for greater container-shipping costs. Which of course will mean more massive revenues down the road when (presumably) shipping costs normalize.
And just one more big positive i'll mention here: during his answer to the last analyst question, the CEO revealed there's a surprisingly large extra market demand for these vans from universities (like vans for airports, they need very little upfitting), hundreds of thousands vans needed for these colleges and universities across the nation. To paraphrase: he was saying it's a very underserved and under-studied market, but it's definitely there, and another big source of future revenues.
ELMS - yes, the shorts are having their day, but down the road the production to meet the overwhelming demand for these ELMS vehicles (both the delivery van and the class 3 truck) will clear out the shorts and skyrocket the stock.
Among other things from the CC this afternoon were the revelations that ELMS will have a run-rate of producing 1500 vans by start of Q1 22 (Jan.), which should easily allow ELMS to hit their target of 19K vehicles produced for 2022.
There's been "no pushback" from customers on the need to raise the delivery van's cost from $32.5K to $34.5K to compensate for greater container-shipping costs. Which of course will mean more massive revenues down the road when (presumably) shipping costs normalize.
And just one more big positive i'll mention here: during his answer to the last analyst question, the CEO revealed there's a surprisingly large extra market demand for these vans from universities (like vans for airports, they need very little upfitting), hundreds of thousands vans needed for these colleges and universities across the nation. To paraphrase: he was saying it's a very underserved and under-studied market, but it's definitely there, and another big source of future revenues.
I've not had time to go over everything nor listen to the call (busy afternoon here!). I'll look forward to reading the transcript of the CC when SeekingAlpha posts it tonight.
BD just posted this over at FinanceYahoo ELMS board:
I thought the conference call was very exciting. They are doing everything as cheaply as possible and as simply as possible. They're using existing tools and facilities, and many of their new assembly workers used to work in that same plant and have EV assembly training. About 3/4 of the employees necessary have been hired. They are already capable of manufacturing vehicles. They will maintain no inventory of completed vehicles. Everything they make will already be sold.
Unfortunately, costs have increased and gross margins have decreased to low single digits, but they also said they are able to offset some of that with a price increase to $34,500 and have had "no push back" from customers on the price increase. They also talked about how the market for universities needing Class 1 vehicles turns out to be huge, with large schools having perhaps 1000 vehicles and there are thousands of schools. Jim said they were surprised by the size of the market. Universities are squarely in the "let's go green" camp, so interest from them could be really important
Big deal for me is that they expect to have revenue in Q3. All vehicles that are manufactured in 2021 are already bound for customers, so sales will be "instantaneous." They don't need crash certification for the first batch of customers. Crash testing will be completed in 2021 with certification so they can start selling to a second group of customers. At 19,100 vehicles in 2022, revenue would be about $650 mil.
I expect to see revisions to the analyst estimates in the next couple of months after production is confirmed and the company gets a handle on the gross margins. Right now they don't actually know what their gross margins will be. Regardless, the analysts' revenue estimates for 2021 are too high and for 2022 are too low. The only problem I heard on the call is the transportation time and cost for parts is way up and unpredictable.
ELMS - hey R59, did you get those shares at $8.13? If so, lucky boy! I notice that was LOD.
ELMS - Mixed news here-- only 1K (not 4K) scheduled for production in 4Q '21, but CEO is reiterating 2022 production (i think it was 19K vehicles), which is awesome. And great news that pre-orders are becoming order commitments, and with some of the biggest names such as FedEx and Amazon.
ELMS Sets Production Schedule for 2021
August 09 2021 - 07:00AM
GlobeNewswire Inc.
Electric Last Mile Solutions, Inc. (NASDAQ: “ELMS” or “ELMSW”) (“ELMS” or “the Company”) announced today that based on customer demand and the overall launch program status of the all-electric Urban Delivery van, the Company was able to set its production schedule for 2021.
“We are pleased to confirm our intention to begin production at the end of the third quarter and that we have set our production schedule through 2021,” said ELMS Co-founder and CEO James Taylor. “Despite the delay in the closing of our merger, impacts from COVID-19 and a number of industry-wide supply chain and logistics challenges, we believe we are on track to produce an estimated 1,000 of our all-electric Urban Delivery vans this year. We are continuing to work hand-in-hand with our supplier and partner community and believe we can seize a first-mover opportunity at scale in the Class 1 commercial EV segment.”
As part of setting its production schedule, ELMS has aligned with suppliers for launch to understand each of their readiness and production capabilities. Last week, the Company held an update for strategic suppliers and partners, including Continental, Siemens, CATL, Maersk, Glovis and others.
ELMS has further been working with customers to convert pre-orders to order commitments with allotted allocation schedules. The intended end-customers for the first order commitments include some of the nation’s leading fleet management companies, as well as an on-demand cargo van rental company, FedEx independent contractors and Amazon Delivery Service Partners.
In addition, ELMS management believes it is on track for FY 2022 production targets laid out in their business plan.
The Urban Delivery, the anticipated first Class 1 commercial EV in the U.S. market, will be produced at the Company’s 675,000 sq. ft. facility in Mishawaka, Indiana.
Mixed news here-- only 1K (not 4K) scheduled for production in 4Q '21, but CEO is reiterating 2022 production (i think it was 19K vehicles), which is awesome. And great news that pre-orders are becoming order commitments, and with some of the biggest names such as FedEx and Amazon.
ELMS Sets Production Schedule for 2021
August 09 2021 - 07:00AM
GlobeNewswire Inc.
Electric Last Mile Solutions, Inc. (NASDAQ: “ELMS” or “ELMSW”) (“ELMS” or “the Company”) announced today that based on customer demand and the overall launch program status of the all-electric Urban Delivery van, the Company was able to set its production schedule for 2021.
“We are pleased to confirm our intention to begin production at the end of the third quarter and that we have set our production schedule through 2021,” said ELMS Co-founder and CEO James Taylor. “Despite the delay in the closing of our merger, impacts from COVID-19 and a number of industry-wide supply chain and logistics challenges, we believe we are on track to produce an estimated 1,000 of our all-electric Urban Delivery vans this year. We are continuing to work hand-in-hand with our supplier and partner community and believe we can seize a first-mover opportunity at scale in the Class 1 commercial EV segment.”
As part of setting its production schedule, ELMS has aligned with suppliers for launch to understand each of their readiness and production capabilities. Last week, the Company held an update for strategic suppliers and partners, including Continental, Siemens, CATL, Maersk, Glovis and others.
ELMS has further been working with customers to convert pre-orders to order commitments with allotted allocation schedules. The intended end-customers for the first order commitments include some of the nation’s leading fleet management companies, as well as an on-demand cargo van rental company, FedEx independent contractors and Amazon Delivery Service Partners.
In addition, ELMS management believes it is on track for FY 2022 production targets laid out in their business plan.
The Urban Delivery, the anticipated first Class 1 commercial EV in the U.S. market, will be produced at the Company’s 675,000 sq. ft. facility in Mishawaka, Indiana.
ELMS - a friggin' bear raid. After stock came near but failed to surmount the Ichimoku conjoined upper-lower cloud band right at 10.50 (stock only reached 10.47), this looked like a classic manipulation by MMs and hedgies' computer algos to take the stock all the way down to see if previous resistance levels like the 9dma or $9.00 would hold as support.
Obviously both levels failed as any new stoplosses set since yesterday's upmove were taken out summarily, especially during that last 35 minutes ferocious attack.
Again, what a manipulation. Various sorts of "yo-yo" games will get played with this stock until production and all those amazing EPS figures for 2023 onward become obvious.
Recall my other post indicating that Jefferies analyst Stephen Volkmann (one of the best in the biz), who gives ELMS a 1-yr PT of $18, sees the co. growing from $1.25 EPS in 2023 to $2.65 EPS in 2024, and $4.30 EPS in 2025, which would earn a vastly higher price target!
What a friggin' bear raid. After stock came near but failed to surmount the Ichimoku conjoined upper-lower cloud band right at 10.50 (stock only reached 10.47), this looked like a classic manipulation by MMs and hedgies' computer algos to take the stock all the way down to see if previous resistance levels like the 9dma or $9.00 would hold as support.
Obviously both levels failed as any new stoplosses set since yesterday's upmove were taken out summarily.
Again, what a manipulation. Various sorts of "yo-yo" games will get played with this stock until production and all those amazing EPS figures for 2023 onward become obvious.
After the strong pre-mkt and opening, the sells down to 10.00 almost entirely fill the chart-gap created by the opening jump. (Just a few cents more down to upper $9s would close the gap.)
I was off hiking all day yesterday but was delighted to see the strong chart reversal continuing-- ELMS soared up right through the 9dma, 20dma, 26dma and then closed above the 50dma.
The Biden EV news helped, but i really think it was the confidence that CEO Taylor provided about being able to launch by end of Sept., less than 2 mos away. Given the merger delay caused by the SEC's forcing SPAC cos. to reprice warrants, that's impressive.
The earnings report and especially the conf. call on Aug 12 should really push ELMS even more into investor awareness. I expect to hear lots of good prospects.
ELMS Sets Date for Second Quarter 2021 Earnings Release and Conference Call
August 06 2021 - 07:00AM
Electric Last Mile Solutions, Inc. (NASDAQ: “ELMS” or “ELMSW”) (“ELMS” or “the Company”), a pure-play commercial electric vehicle (“EV”) company focused on redefining productivity for the last mile, today announced that the Company will release its second quarter 2021 financial results after the market closes on Thursday, August 12, 2021. A conference call to discuss the results will be held on Thursday, August 12, 2021 at 5:00 p.m. Eastern Time.
Conference Call and Webcast
To listen to the live webcast, go to the Investors section of the Company’s website at www.electriclastmile.com at least 15 minutes prior to the scheduled start time in order to register.
To Participate in the Telephone Conference Call:
Dial in at least 15 minutes prior to start time.
Domestic: 1-877-300-8521
International: 1-412-317-6026
About Electric Last Mile Solutions, Inc.
Electric Last Mile Solutions, Inc. (Nasdaq: ELMS) is focused on defining a new era in which commercial vehicles run clean as connected and customized solutions that make our customers’ businesses more efficient and profitable. ELMS’ first vehicle, the Urban Delivery, is anticipated to be the first Class 1 commercial electric vehicle in the U.S. market. The company is headquartered in Troy, Michigan. For more information, please visit www.electriclastmile.com.
This is news the shortsellers don't want to hear-- that production might come right on schedule:
ELMS Provides Key Updates to Suppliers and Partners Ahead of Start of Production
August 05 2021 - 09:00AM
GlobeNewswire Inc.
Electric Last Mile Solutions, Inc. (NASDAQ: “ELMS” or “ELMSW”) (“ELMS” or “the Company”), a pure-play commercial electric vehicle (“EV”) company focused on redefining productivity for the last mile, today held an update for more than 40 of its strategic suppliers and partners to align on launch readiness ahead of the start of production of the all-electric Urban Delivery van, scheduled to start at the end of the third quarter this year.
The conference for strategic suppliers and partners, including Continental, Siemens, CATL, Maersk and others, was led by ELMS Co-Founder and Chief Executive Officer James Taylor, Chief Operating Officer Jerry Hu and Vice President of Engineering Praveen Cherian. Mr. Taylor covered the Company’s recent listing on Nasdaq as well as the planned logistics, material flow and production schedule of the Urban Delivery through the fourth quarter this year. Management also shared more details on the Company’s engineering progress and production readiness.
“The demand from our customers is there, and with your continued support we can achieve our production milestones this year,” Mr. Taylor said during the meeting. “Together, we have a terrific opportunity to seize a first-mover advantage, help lead commercial fleets’ transition to electric and establish America as a global center for EV manufacturing.”
The Urban Delivery, the anticipated first Class 1 commercial EV in the U.S. market, will be produced at the Company’s 675,000 sq. ft. facility in Mishawaka, Indiana. In preparation, the Company has already commenced hiring at the facility in areas spanning production, process engineering, material management and employee training
Nice close for ELMS, on a day most EV cos. other than Tesla were hit hard. Maybe some folks are realizing that ELMS doesn't have the budget & delay problems, nor the highly-competitive market niches that so many other EV names are experiencing....
This blurb from SeekingAlpha.com:
Electric vehicle startup stocks sputter while Tesla outperforms • 3:27 PM
• The electric vehicle sector is having a rough session, with the startup names leading the list of decliners.
• Decliners include Faraday Future Intelligent Electric (FFIE -9.7%), EVgo (EVGO -7.9%), Nikola (NKLA -7.9%), Fisker (FSR -7.2%), Arrival (ARVL -6.8%), QuantumScape (QS -5.9%) and Lucid Motors (LCID -3.0%) with thirty minutes of trading left in the day.
• Traders say that balance sheets are attracting more attention in the auto sector amid the intensifying push by auto majors into electrification, especially with the revenue timelines for some of the EV entrants several years out. The infrastructure bill is also drawing notice. While $7.5B is being set aside for charging stations and another $2.5B for electric buses, those marks are short of what analysts were expecting last spring.
• On the other side of the startup timeline is Tesla (TSLA -0.1%), with production already ramping up. Shares of Tesla are outperforming the sector on the day and for the year.
• Tesla's fundamentals have improved to the point that the EV stock's Seeking Alpha Quant Rating ranks in the top quarter of all consumer discretionary stocks.
• Meanwhile, the auto stock that has racked up the strongest YTD gain is not a startup, but one of the Detroit majors.
ELMS - ELMS is the first selection discussed in this article (at the popular TipRanks investor site) that recommends 3 stock buys: https://www.tipranks.com/news/article/3-strong-buy-stocks-under-10-with-substantial-upside-potential/
Here's the relevant discussion of ELMS:
------------------
3 “Strong Buy” Stocks Under $10 With Substantial Upside Potential
TipRanks
Tue, August 3, 2021, 7:54 AM
[...] We found three stocks deserving a closer look. In addition to meeting the [risk/reward] profile, they also bring with them one additional attribute: a unanimous analyst consensus, a sign for investors that Wall Street’s bullishness is no flash in the pan. Let’s take a closer look.
Electric Last Mile Solutions (ELMS)
We’ll start in the automotive industry – specifically, in the electric vehicle (EV) segment. EVs aren’t new, they’ve been around since automobiles were invented in the 19th century. They are on the edge of an industrial breakout now, however, due to a confluence of political pressure that favors the ‘green’ economy and improved battery technology that makes EVs practical in ways they never were before. Modern EVs can reach ordinary highway speeds, with a ranges of 100 to 300 miles, on a single charge, and while still expensive, prices are coming down, putting them in reach of the masses.
Electric Last Mile, based in Troy, Michigan near to the heart of the Detroit’s historic automotive industry, is an EV company developing a customizable vehicle and boasts a 675,000 square foot assembly plant in Indiana that, at full capacity, will be able to produce 100,000 EVs annually. The company is aiming at the commercial market in urban areas, with a deliver van in pre-order now and a Class 1 commercial light truck under development. These vehicles are aimed at the ‘last mile,’ the final leg of the delivery chain in transport networks.
The delivery van features a 150 mile range, sufficient for daily urban deliveries, a 171 cubic foot cargo capacity, a 2,100 pound payload, and dimensions similar to existing gasoline powered vans. In addition, the vehicle will feature wireless connectivity. The vehicle is slated for production launch later this year.
ELMS started trading on the NASDAQ this past June, after completion of a SPAC merger with Forum Merger III. The transaction brought $379 million in new capital to ELMS.
Electric Last Mile Solutions has caught the eye of Jefferies’ 5-star analyst Stephen Volkmann, who’s impressed by the company’s selection of a target market in the delivery chain.
“Oddly, companies and markets have focused on electrification in the Heavy (Class 8) and Medium (Class 5-7) truck markets, despite significant range and cost challenges. In our view, the Class 1-3 ‘last mile’ market represents a much more significant opportunity for BEVs as these vehicles tend to have a relatively low level of daily mileage (50-60/day) and return to a home hub for consistent charging every evening. We estimate a TAM of over 800K veh/yr as eCommerce continues to drive higher demand for delivery vehicles, and we expect this segment to electrify fastest, driven my government incentives and corporate sustainability goals,” Volkmann noted.
The analyst continued, “ELMS will be the first company to address these markets, with a vehicle already at cost parity with ICE vehicles and lower total cost of ownership [TCO]. Assuming ELMS can successfully launch its vehicles as planned, we believe it can likely sell out its production for the next several years.”
To this end, Volkmann rates ELMS a Buy along with an $18 [1-year] price target. The analyst, therefore, expects the stock to climb ~116% over the coming months. (To watch Volkmann’s track record, click here)
[Recall my other post indicating that Volkmann sees ELMS' growing from $1.25 EPS in 2023 to $2.65 EPS in 2024, and $4.30 EPS in 2025, which would earn a vastly higher price target!]
The unanimous Strong Buy consensus rating on ELMS is based on 5 reviews since the stock entered the public markets. Shares are currently priced at $8.30 each, and their $15.40 average price target suggests a one-year upside potential of ~86%. (See ELMS stock analysis on TipRanks)
-------------------
The reason i keep citing Jefferies analyst Volkmann is because he's one of the top-ranked analysts on Wall Street. See
https://www.tipranks.com/analysts/stephen-volkmann
Stephen Volkmann
Jefferies
Wall Street Analyst
Ranked #127 out of 7,616 Analysts on TipRanks
(#167 out of 15,717 overall experts)
And note that ELMS has, by far, the biggest upside potential of all his stocks covered, 116%, compared to the next one at only 46% upside....
The reason i keep citing Jefferies analyst Volkmann is because he's one of the top-ranked analysts on Wall Street. See https://www.tipranks.com/analysts/stephen-volkmann
Stephen Volkmann
Jefferies
Wall Street Analyst
Ranked #127 out of 7,616 Analysts on TipRanks
(#167 out of 15,717 overall experts)
ELMS is the first selection discussed in this article (at a popular investor site) that recommends 3 stock buys:
https://www.tipranks.com/news/article/3-strong-buy-stocks-under-10-with-substantial-upside-potential/
Here's the relevant discussion of ELMS:
------------------
[...] We found three stocks deserving a closer look. In addition to meeting the [risk/reward] profile, they also bring with them one additional attribute: a unanimous analyst consensus, a sign for investors that Wall Street’s bullishness is no flash in the pan. Let’s take a closer look.
Electric Last Mile Solutions (ELMS)
We’ll start in the automotive industry – specifically, in the electric vehicle (EV) segment. EVs aren’t new, they’ve been around since automobiles were invented in the 19th century. They are on the edge of an industrial breakout now, however, due to a confluence of political pressure that favors the ‘green’ economy and improved battery technology that makes EVs practical in ways they never were before. Modern EVs can reach ordinary highway speeds, with a ranges of 100 to 300 miles, on a single charge, and while still expensive, prices are coming down, putting them in reach of the masses.
Electric Last Mile, based in Troy, Michigan near to the heart of the Detroit’s historic automotive industry, is an EV company developing a customizable vehicle and boasts a 675,000 square foot assembly plant in Indiana that, at full capacity, will be able to produce 100,000 EVs annually. The company is aiming at the commercial market in urban areas, with a deliver van in pre-order now and a Class 1 commercial light truck under development. These vehicles are aimed at the ‘last mile,’ the final leg of the delivery chain in transport networks.
The delivery van features a 150 mile range, sufficient for daily urban deliveries, a 171 cubic foot cargo capacity, a 2,100 pound payload, and dimensions similar to existing gasoline powered vans. In addition, the vehicle will feature wireless connectivity. The vehicle is slated for production launch later this year.
ELMS started trading on the NASDAQ this past June, after completion of a SPAC merger with Forum Merger III. The transaction brought $379 million in new capital to ELMS.
Electric Last Mile Solutions has caught the eye of Jefferies’ 5-star analyst Stephen Volkmann, who’s impressed by the company’s selection of a target market in the delivery chain.
“Oddly, companies and markets have focused on electrification in the Heavy (Class 8) and Medium (Class 5-7) truck markets, despite significant range and cost challenges. In our view, the Class 1-3 ‘last mile’ market represents a much more significant opportunity for BEVs as these vehicles tend to have a relatively low level of daily mileage (50-60/day) and return to a home hub for consistent charging every evening. We estimate a TAM of over 800K veh/yr as eCommerce continues to drive higher demand for delivery vehicles, and we expect this segment to electrify fastest, driven my government incentives and corporate sustainability goals,” Volkmann noted.
The analyst continued, “ELMS will be the first company to address these markets, with a vehicle already at cost parity with ICE vehicles and lower total cost of ownership. Assuming ELMS can successfully launch its vehicles as planned, we believe it can likely sell out its production for the next several years.”
To this end, Volkmann rates ELMS a Buy along with an $18 [1-year] price target. The analyst, therefore, expects the stock to climb ~116% over the coming months. (To watch Volkmann’s track record, click here)
[Recall my other post indicating that Volkmann sees ELMS' growing from $1.25 EPS in 2023 to $2.65 EPS in 2024, and $4.30 EPS in 2025, which would earn a vastly higher price target!]
The unanimous Strong Buy consensus rating on ELMS is based on 5 reviews since the stock entered the public markets. Shares are currently priced at $8.30 each, and their $15.40 average price target suggests a one-year upside potential of ~86%. (See ELMS stock analysis on TipRanks)
ELMS - i don't know what else that poster Horst owns.
Here's some further detail i found for what the Jefferies analyst forecasts for ELMS.
In the following projections, he has a very robust EPS forecasts for 2024, 2025 (2.65 then 4.30 EPS). Note that some analysts and CEO James Taylor himself see ELMS reaching breakeven and initial profitability by late 2022. But with EPS in the positive and growing strongly from 2023 to 2025, ELMS would deserve a growth stock P/E of at least 25 or 30. Just do the math on where the shareprice would be trading by then, just 2-4 years away. If the growth appears sustainable beyond 2025, this could easily be an $80-$90 stock by then, a ten-bagger from here.
https://www.americanbankingnews.com/2021/07/30/jefferies-financial-group-weighs-in-on-electric-last-mile-solutions-inc-s-q2-2021-earnings-nasdaqelms.html
Electric Last Mile Solutions, Inc. (NASDAQ:ELMS) – Investment analysts at Jefferies Financial Group issued their Q2 2021 earnings per share (EPS) estimates for Electric Last Mile Solutions in a report issued on Wednesday, July 28th.
Jefferies Financial Group analyst S. Volkmann anticipates that the company will earn ($0.19) per share for the quarter.
Jefferies Financial Group has a “Buy” rating and a $18.00 price target on the stock.
Jefferies Financial Group also issued estimates for Electric Last Mile Solutions:
Q3 2021 earnings at ($0.22) EPS,
Q4 2021 earnings at ($0.25) EPS,
FY2021 earnings at ($0.75) EPS,
Q1 2022 earnings at ($0.12) EPS,
Q2 2022 earnings at ($0.10) EPS,
Q3 2022 earnings at ($0.01) EPS,
Q4 2022 earnings at ($0.02) EPS,
FY2022 earnings at ($0.25) EPS,
FY2023 earnings at $1.25 EPS,
FY2024 earnings at $2.65 EPS
FY2025 earnings at $4.30 EPS
In the following projections, the Jefferies analyst has a robust EPS forecast for 2024, 2025. Note that some analysts and CEO James Taylor himself see ELMS reaching breakeven and initial profitability by end of 2022. But with EPS in the positive and growing strong from 2023 to 2025, ELMS would deserve a growth stock P/E of at least 25 or 30. Just do the math on where the shareprice would be trading by then, just 2-4 years away.
https://www.americanbankingnews.com/2021/07/30/jefferies-financial-group-weighs-in-on-electric-last-mile-solutions-inc-s-q2-2021-earnings-nasdaqelms.html
Electric Last Mile Solutions, Inc. (NASDAQ:ELMS) – Investment analysts at Jefferies Financial Group issued their Q2 2021 earnings per share (EPS) estimates for Electric Last Mile Solutions in a report issued on Wednesday, July 28th.
Jefferies Financial Group analyst S. Volkmann anticipates that the company will earn ($0.19) per share for the quarter.
Jefferies Financial Group has a “Buy” rating and a $18.00 price target on the stock.
Jefferies Financial Group also issued estimates for Electric Last Mile Solutions:
Q3 2021 earnings at ($0.22) EPS,
Q4 2021 earnings at ($0.25) EPS,
FY2021 earnings at ($0.75) EPS,
Q1 2022 earnings at ($0.12) EPS,
Q2 2022 earnings at ($0.10) EPS,
Q3 2022 earnings at ($0.01) EPS,
Q4 2022 earnings at ($0.02) EPS,
FY2022 earnings at ($0.25) EPS,
FY2023 earnings at $1.25 EPS,
FY2024 earnings at $2.65 EPS
FY2025 earnings at $4.30 EPS.
ELMS - there are some good insights from Horst over at the new I-hub ELMS board. He's been swing-trading a number of SPACs and post-merger tickers.
First, here's what he clarified about ELMS' recent S-1 filing, which the market evidently misunderstood this past week, likely exacerbating the sell-off:
------------
[Horst at I-hub ELMS board:]
The S-1 was primarily registering warrant shares, earn-out shares, founder shares, private placement units etc. that were part of the SPAC merger deal, and the shares are being registered for resale by the eventual owners of those shares, not ELMS. So it's not a share offering in the usual sense, just registering the shares that were part of the merger deal . Traders always get spooked by these, so they present a good dip if one is looking. The company doesn't receive proceeds from these shares aside from warrants that may be exercised, though the sponsor, execs, etc. will get assorted incentive shares once the benchmarks of $12, $14, and $16 have been sustained for 20 out of 30 consecutive days respectively. This is standard chowder for SPACs.
Here's the equivalent S-1 for FSR [Fisker] that was filed shortly after its merger was consummated: https://www.sec.gov/Archives/edgar/data/1720990/000119312520289193/d92481ds1.htm
Here's the equivalent S-1 for QS [Quantumscape] shortly after its merger: https://www.sec.gov/Archives/edgar/data/1811414/000119312520320220/d53940ds1.htm
So this S-1 is just part of the process of registering already-disclosed eventual shares that were part of the SPAC merger deal.
Here's the ELMS S-1 which is worth reading in full even though it's long and tedious....
https://docoh.com/filing/1784168/0001213900-21-038397/ELMS-S1
The OS barely changed after the "offering" [from 124M O/S to 132.6M O/S] because the vast majority of these shares have not been issued yet - they will be once certain pps benchmarks are reached and once warrants are redeemed.
----------------------
And here is one of Horst's very recent posts about the Jefferies "initiating coverage" with a PT of $18:
$ELMS Buy Rating with 18.00 price target in new coverage by Jefferies
Jefferies was part of the ELMS merger deal and will get incentive shares after the stock has been at 12.00 or higher for 20 out of 30 consecutive post-merger trading days, which is why I've been waiting for the Jefferies coverage as an indicator that it's time for this ticker to start its overall upward trajectory. Warrant shares as well as Jefferies' and other earn-out/incentive shares were registered last Friday, and now that Jefferies has initiated coverage, imo the table is officially set here.
The other benchmarks for earnout shares are 14.00 and 16.00 respectively, also with that 20 out of 30 consecutive days provision, and warrants can be exercised at 11.50. Most de-SPACs require an 18.00 pps for 20 or 30 days tor the company to redeem warrants (I believe it's the same with ELMS but don't have the prospectus in front of me - correct me if I'm wrong).
At any rate, the big boys don't like to wait terribly long to cash in, so assuming a willing sector/market overall, I think it's likely we'll see an upward trajectory kick in sooner than later to hit that first 12.00 benchmark or higher for a sustained time. No guarantees, but this is how I've played all the good de-spacs - anticipating the channels outlined by these assorted incentives, assuming downward pressure once new shares hit followed by news that kickstarts a recovery, etc. - and it's been lucrative for me thus far.
Just my opinion of course, and there are never guarantees that any stock will perform as expected, as we all know.
[P.S.]--ARCA has had the algo set to "retail despair" for the last week and a half. It'll head back up when the shakedown phase is complete...
This post #56 of yours was a beautiful summary and set of comments (somehow i missed it the other day). I tried to "sticky it" to the board, but cannot do so for any post over 48 hours old.
If anyone would like to join as co-moderator of this board, you're more than welcome. I'm super-busy with some outside projects so don't have time to more than briefly check this board every other day or so.
I notice during my absence some posts have been deleted by the Ihub admin, so an extra moderator who can look at this board a few times a day would be welcome.
If the posts deleted by Ihub admin were due to personal attacks, i'd remind everyone that empathy and attempts at mutual understanding are the mark of a more evolved human being No need to take the low road when you can take the higher road.