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If you have lordstown, Get out
Lordstown Motors says it doesn’t have cash to start commercial production. The electric-truck startup also says that it has doubts about whether it can continue
$Lordstown Motors (RIDE.US)$
$Lordstown Motors (RIDE.US)$
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Discussing
Trump 2.0 Era: How will global markets evolve?
🎙️Discussion: 1. How will tariff policies affect the movement of key assets such as U.S. stocks, gold, and Bitcoin? 2. Given this context,
Moo Live
Jan 23 16:54
MicroStrategy Q4 2024 earnings conference call
Daniel Zn : Good idea to short it tupack?
Mcsnacks H Tupack OP Daniel Zn : With them saying they can’t produce any vehicles without more money means they will have to do an offering which will drop the price or declare bankruptcy which will drop the price. So I’d say I am.
mcstiner : they went over this in the call 2 weeks ago. Theyre looking at non-delutive options, specifically a loan. they have sufficient assets to secure lending. they can produce with the money on hand, but not as many trucks as previously expected.
I'm adding if it dips below 9. adding more if it dips below 7. I think they'll be solvent long term.
DipKing : Dead company to many EV players for an unfunded startup
Mcsnacks H Tupack OP mcstiner : I’m sure the rising cost of steel, aluminum, copper, and the availability and price of semiconductors is hurting their overhead.
DipKing : They recently did one I don’t think it will help unless they can go the route of $Churchill Capital Corp IV (CCIV.US)$
mcstiner Mcsnacks H Tupack OP : I also believe so... rising cost of both materials and labor. that will be true as an industry standard. all auto manufacturers will feel that, but newcomers can't offset by raising sell prices. that's why they're talking about a loan.
this was all disclosed weeks ago.
the timing on this news is crazy tho. a lot of brokerages have blocked shorting memstocks altogether or raised the margin requirements... Ride is still shortable... I think the shorts are trying to play with the opportunities they have on hand... of the stocks that had big rallies, RIDE was both shortable AND had bad news they could repackage into catastrophe. And it strikes a discordant chord with people who have Nicola in their recent memory.
It'll dip, yeah. Into bankruptcy? I'm betting against that.
*position* bought around 14/share on 2 different platforms. avg down to around 9.5. buy order in if it hits 7.5. planning to buy more if it hits below 7.
roguetrekkie : Wish I had known that. A put went from .01 yesterday to 2 today. 20,000 %