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Re: Saving Grace post# 8144

Wednesday, 04/10/2024 2:36:33 PM

Wednesday, April 10, 2024 2:36:33 PM

Post# of 8668
The last is easy, they will NOT merge with LANDX. Not with Burns at the helm. I think that can be treated as a fact without dispute.

The point about the SS being tiny is a fair point. That does mean possible quick moves, but even without a change in the SS, $500 is quite a valuation for a company that at the moment has no revenue, nor much in the way of assets. Dividends seems unlikely given the failure of RIDE, however, this is new management so I suppose anything is possible. However, you are making assumptions that may or may not be true.

The board was chosen for a reason. That's hard to disagree with, as you don't state the reason. If NRDE is going to go into the EV business, which is not yet certain, then they will need to change the BOD, and maybe the CEO with people who are competent in that business. The current management has financial experience, which is certainly important, I agree. But, whatever business they go into, there will need to be changes to reflect that new business.

You keep saying that Nu Ride Inc. will win big against Foxconn. I disagree, to a point. What Foxconn hasn't paid for the plant, they may still have to pay. I'm unclear that they haven't already paid for the plant. I think the dispute is actually over the second agreement which is the investment agreement, based on my reading, but that information is a little imprecise including that coming from the old management. So, the disagreement we have comes from the fraud claim. I don't think Lordstown/Nu Ride will win the fraud claim, as I don't see the fraud. I do see perhaps a claim of failure to keep the contract, and that they will be required to pay what they owe. That's a far cry from your claim. To me, this qualifies as a win for Nu Ride, Inc., but not the big win that you are claiming. There is still a possibility that they will lose, as Foxconn does have a point about then Lordstown mismanagement of the stock with the delisting notice. The old Lordstown management does deserve some blame there. It's a fair point, but I'm not sure that it will be enough for a clean win by Foxconn. Either way, the courts will make the determination, unless the 2 decide to settle. That's still an option, I think.

So, I don't see a $500 stock, as the other EV makers, like Fisker, and even Rivian, aren't doing great, though better than Lordstown did. Even Tesla's sales are slowing, though the EV market, in general, should grow. Now that the major automakers are in the business, a small startup like Nu Ride will have trouble. So, Nu Ride's best hope might be in a) another business (for SPRV I used the example of Taco Trucks, but that's mostly in jest) or b) in some manner supportive of the EV industry, like making parts, repair parts, or some other function within that industry. They aren't in the EV industry at the moment, and as you said, their BOD doesn't have EV experience. Your pictures of Foxconn vehicles doesn't support your case at all, though they are nice pictures.