Electric Last Mile Solutions Inc (ELMSQ)

[value1008]

I've been focused on other stuff... The daily/hourly trading behavior on ELMS will be very much subject, imo, to the risk off / risk on sector & market sentiment.

I was glad to see the PR the other day providing a bit of clarity on how ELMS is laying off staff to focus on their core business plan.

I presume those are the jobs created for the business entities ELMS established in China and S.F., and maybe extra divisions at Troy, not at the Mishawaka, IN, factory, where the core assembly / production business is to occur and ramp up this year.

So much is up in the air about whether ELMS will be able to get logistic costs down, and sufficient parts delivered to ramp up.
The debacle with co-founders' resignation could not have come at a worse time, imo.

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March 07 2022 - 01:15AM

Electric Last Mile Solutions (ELMS) plans to lay off 24% of its staff as it seeks to streamline its business. Reuters reports that the layoffs will allow the commercial electric vehicle (EV) maker to become leaner as it focuses on its core business. [...] The company has yet to ascertain the total cost savings it will achieve with the layoffs.