Correct, NRDE is a shell company.
The plan says nothing about EVs being made, so no VAN, no operations as of yet. That is correct. They never had a van, all references by even the reference poster were to something called a "truck". They bought the truck rights from Workhorse, and sold it to LandX.
I realize the current fantasy is that somehow, Nu Ride will wind up owning Foxconn, but that clearly won't happen. They won't regain the factory from the suit, nor should they want the factory. They have, at last count, something like 11 employees (+- a few here or there since that report). They have nothing to make. Given the claim that Foxconn isn't making any cars here, that infrastructure of car manufacturing just isn't there. Nu Ride, should they survive and continue in business, will likely do something else. I do think they will win some money from Foxconn, but it won't be billions. They haven't gone past the motion for dismissal yet. I do think they will settle.
In the mean time, the only reason to invest in the stock is the expectation that something may (or will) happen to leave shell status and have an actual business with actual revenue. They aren't there yet. I said earlier that I don't think this is a great short opportunity either, though there is clearly some short interest, about 574,000 as of the end of March. But given the small volumes, sub $5.00 price (which I think makes it difficult to short, at least for some investors), and low volatility, there are other things to worry about than the shorts holding this stock down in some vast as yet undetermined conspiracy.
Good luck. This has been interesting to follow, and seeing the recovery from bankruptcy was interesting, as it did feel like a liquidation (and they did liquidate many of their assets), but managed to emerge as a shell. We'll see if they "fill" that shell, and what the new business will look like. They do have some money, but not enough to return to EV design, unless there is a pot of money I am missing apart from the "hopeful" outcome from the Foxconn suit, which will probably be litigated for over another year unless they settle.
It does say "shell" in the 10-K, the actual filings not some musings of a YouTube guy or an automotive magazine.
