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STOCKS END MIXED IN CHOPPY TRADING; DOW, S&P 500 CLOSE FLAT
S&P 500 earlier slipped into bear market as losses exceeded 20% from all-time high
Lordstown Motors Corp. (RIDE)
NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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Buy before close and gain the rewards on Tuesday
Just option expiration activity going on now. RIDE should return back up later this afternoon
I own puts
Are we going to dip back below $2 today?
I just listened to the shareholder presentation.
The things I like about the current state:
1. Dan understood the need to cooperate to get something done. It's a sign of a leader.
2. The team was professional and knowledgeable.
3. Dan mentioned that the increase in shares doesn't commit them to releasing them. They have control over timing. Dan has said in the past that he wants people to be more familiar with the product, so that gives you a timeline.
4. Latest FMVSS frontal, side, and rear crash tests have been positive and consistent with CAE simulations. They are predicting a 5-star crash safety performance.
5. Dan mentioned that Foxconn can fill that big factory quicker.
6. The promo videos of the truck being driven look good. (It's not just rolling down a hill.)
7. Cold tests are completed which are hard on batteries.
8. The joint venture with Foxconn. A broader product strategy because of the MIH system. This means designing parts for other OEMs that Foxconn could produce.
9. Global ambitions from Foxconn's supply chain.
10. Estimates of selling to the public in Q4. The market is forward looking. I know you have been Burns, but that doesn't mean he is still here.
11. With the deadlines approaching, news will follow.
Things I don't like:
1. Certification isn't finalized. It's still a big hurdle ahead. It's binary risk. It's a big up or a big down. Binary risks are bad because they are unpredictable.
2. High mileage and durability tests aren't completed yet, but ongoing.
3. The turn signals in the promo videos of the vehicle had off timing.
4. Variable cost structure will make volatility increase during earnings calls periods initially. Both up and down based on costs.
5. At some point likely in Q3, Q4, or Q1 2023 they will need to raise 150M.
6. I want to know more about tooling changes or production changes that comes with Foxconn moving in. They have stated that the deal has been seamless and continuous in moving forward, but I would like to know more. Although, the deal was a few days ago.
LMC and FSR changed their business models when the economy changed. They went from being vehicle producers to vehicle developers. They will model, design, engineer the vehicles while Foxconn will build them. I expect to see some cross capabilities designs in both brands in the future. FSR has a new system of buying upgrades for the vehicle that disappear when you sell it. LMC has hub motor tech. With a plant so big, I wonder if there is room for a 3rd EV designer with differentiated tech. Curious. The future will be interesting indeed. Good job Dan. Let's see if you can keep it up.
GLTA! Open to questions or comments.
The charts are showing strong support at $25. Oops, $0.25
LAST 52 WEEK HIGH 15.80 !!!
They need another $150 million even after selling the plant just to produce 500 trucks this year but they would still have huge negative cash flow and no cash going into 2023 which means they will need to a lot more cash to remain viable, a lot more. And that is the best case scenario. They still need to get certification for the Endurance. Suspect they are continuing to have trouble with the AI which has to coordinate all four hubs for more than a short test strip.
2022 ENDURANCE PRODUCTION IMMINENT !!!
What happened you ask? They had the annual meeting and talked about their plans. Every time they talk about their plans the stock goes down. Absolutely every time. Got it?
APA Close and JV announcement last week. Interview w/ CEO Dan on cash position earlier this week. *another big positive news was saved for the shareholders today!...wait and see!!!
DAN NINIVAGGI LMC CEO !!! " "
" LET'S BE CLEAR WE HAVE ENOUGH MONEY TO START PRODUCTION IN THE THIRD QUARTER AS PLANNED !!! AND WE HAVE ENOUGH CASH GOING INTO NEXT YEAR TO BE COMFORTABLE !!! REF: CLEVELAND BUSINESS JOURNAL !!!
With oil soon to be at $150, alternates and EV plays like PLUG, RIDE, MVST, MVIS, F, etc. should come back to previous levels soon. $5.49 for diesel yesterday at the pump here in Tennessee.
When does the Annual Shareholders meeting start? ....any updates?
SEC Form 8-k filed yesterday.
Great day for RIDE on a disaster for the whole market. We closed above the open and traded strongly above the 50 DMA for part of the day on strong volume. Looking for a huge up day shortly, as we finally break above the 50 DMA. JMO
I always liked the quote "you can ignore reality, but you can't ignore the consequences of ignoring reality."
Anyone notice how over the past few days the imaginary production start has moved from third quarter to fourth quarter?
Enjoy the ride 🚀
LMC WOULD LIKE TO SELL 300,000 ENDURANCE PICK UP TRUCKS !!! TRUCKS ESPECIALLY ELECTRIC ARE IN HIGH DEMAND !!! YOU CAN'T GET A F150 THEY ARE SOLD OUT FOR 24 MONTHS !!! SO WHAT YOU GOING TO DO !!! BUY AMERICAN !!! BUY THE LMC ENDURANCE !!! RIDE ON !!!
This guy just listened to the shareholder presentation.
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