Wednesday, May 18, 2022 6:34:42 PM
I believe Lordstown is committed to bringing the Endurance to market, simply as a branding maneuver and also as a way to build some value to position for the FoxConn buyout. I also would not be surprised if that is a condition to the deal behind the scenes as well - that Lordstown must keep the Endurance on track for intial low-rate production and completion of the NHTSA Crash Test Certifications so that FoxConn has some initial revenue to buy into and assume with a product they can ramp up into higher production volume.
I think it will start to slowly gain as the rumors of a FoxConn buyout start to come out but it won't regain the PPS of last year when the market cap was $1B plus. Then, it will crash - hard.
So that's another way of saying we are in the hole and we will stay in the hole from last year. There is an opportunity to bounce back from where we are now, but before that happens my guess is PPS will continue to slide lower through early summer.
I would actually use this time to average down - except I am not going into this company any deeper as I don't believe in them any longer and I don't trust them either. I don't think they've been honest and I don't think they will be honest in the future either.
Now let's come back to this in June 2023 and see how close I was lol.
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