NU Ride Inc (NRDE)

[Benwahsauce]

You may have said why but not that I can remember sicne I’ve been watching. But it’s moot sicne the rivian company has full fledged production.

Bottom line is that rivian has a truck on the market getting good reviews and is considered to be a great vehicle as where this brand hasn’t rolled one vehicle off the line. This is not a company like tesla with huge govt contracts (hence the reason why that stock blew up as they have yet to turn a profit but will consistently get money from govt for space x).

Now to answer your speculation on why it dropped…. That’s very easy. Investors were unloading shares at alarming rate including the old CEO.

A big concern of mine is the companies now that are already incorporating EV’s into their lineups and they have better marketing, service, etc. which makes it hard for new companies to even compete in that sector. Honestly RIDE’s PPS was a bi product of that damn surging sector which is now cooled off. IF they start production things could be different but by adding 150mm shares to the charter, they are showing that they are trying to raise capital and I have to say it’s bad timing on behalf of management due to what’s going on economically. Seems to me like they were late to the party thus will be harder to sell shares and find decent rates for financing. If they would have made this happen a few months ago they would have been in a much more favorable environment for funding but alas….there’s going to be a recession and funding will dry up.

Who knows though. They could be using the shares to stay afloat during this coming recession as that would be smart to have working cap stashed. Especially for a semi startup company