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Tuesday, May 14, 2024 10:16:43 AM
The fact, as you and I agree on, is that Nu Ride is a shell, with no IP, no manufacturing assets and a few employees (zoominfo.com obviously didn't have current information). There is probably a future here, and maybe a profitable one, so I can see holding and waiting (though most people would go elsewhere as this would be dead money - though I have dead money stocks too). The volume hasn't been there, so there hasn't been the interest to even flip this stock for anything meaningful. Maybe later, but now doesn't seem to be the time.
Even if the poster is right about Nu Ride winning the lawsuit against Foxconn (I don't think they will, but that's another story), that's multiple years away. They haven't acted on the motion to dismiss yet. That's been about 6 months. There will probably be some settlement of some sort, as while Foxconn has a point about then Lordstown failing in their end of the agreement, I do think they jumped the gun, as it were, and probably should have continued to honor the agreement based on what I read. I'm not a lawyer, though. I certainly don't see fraud, though Lordstown has already admitted to what amounts to be fraud. So, Lordstown isn't the innocent victim here by any stretch of the imagination. If they settle, I would expect that sometime in the next 2 years.
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