NU Ride Inc (NRDE)

[jaybiscuit]

You need to read the post pinned to this board. The Foxconn deal sucks for investors. The fraudster execs at RIDE sold the factory and stock and are sending investors up the river on a sinking ship! Here are the cons:

1. Foxconn could end up owning a substantial percentage of the electric vehicle maker's stock.

2. Lordstown Motors would have to make lease payments on the portion of the plant it uses.

3. The $298 million that Lordstown Motors could raise through the plant and stock sales, and warrant exercises would be a drop in the bucket. Lordstown Motors said Sept. 30 that it expects to make up to $400 million in capital; up to $120 million in selling, general and administrative; and up to $340 million in research and development expenditures in 2021.

4. Foxconn would get "certain rights" related to the automakers' future vehicle programs and licensing arrangements, and Lordstown Motors could lose control of some of its intellectual property.

https://www.bizjournals.com/cleveland/news/2021/10/07/cons-weigh-on-lordstown-motors-foxconn-deal.html?ana=yahoo