Rivian seeks IPO that would Make it More Valuable than Ford or GM

[davewindsor]

De-bunked ?

This is August 26 2021.

The Justice Department reportedly has launched a probe into the companyÂ’s dealings and the electric-truck maker has disclosed a SEC inquiry.
Lordstown recently added a “going concern” warning to regulatory filings, following the departure of key executives and doubts over its order book, with the company clarifying that orders are not binding.

https://www.marketwatch.com/story/lo...article_inline

The going concern issue was before they got the $400 guarantee from the hedge fund. That's not an issue anymore. They're going to start rolling out their production runs in a few weeks. They already had the robots build 52 trucks for the national safety inspection.

So what if the justice department launches an investigation. They are always investigating companies. They haven't been charged or prosecuted, so it's meaningless. If you get audited, does that mean you committed tax fraud? Of course not. It's just an investigation.

The key executives sold their shares at $27. It's now trading at around $6.50. They didn't sell everything. If I was a Lordstown Exec, I would have sold a sizeable chunk of Lordstown shares at $27 a share too.

You cannot debunk something that is coming directly from the company.

If someone calls you a rapist, are you saying you can't deny the accusation as false because it comes directly from you? Don't be ridiculous. You say it's impossible because you were somewhere else that night. That's called debunking. How else will it get debunked? Taking someone to civil court for slander can take years.

Notice it also reads - Workhorse lost 52 million on their stock investment with Lordstown.

Workhorse was providing the last mile in commercial vehicles.

If you want to see a real joke of an automotive EV company and true meme stock look up the financials for workhorse. They have been a public company since 2016, have a $1.2B market cap, and their revenue for 2020 was $1.4M, but their cost of revenue was $13M. In 2019, their revenue was $376K. In 2018, their revenue was $763K. A national franchise mechanic shop makes more revenue than their EV truck conversions. Their biggest asset on their balance sheet was Lordstown stock which they got for use of their patents. Five years and what do you have to show for it?? That's why USPS pulled their order with Workhorse and went with Oshkosh.

They are also admitting that their claimed orders of 100,000 trucks were not binding.


What it clarifies is these companies that are claiming standing orders are not being honest to investors.

Of course they're not binding orders, the Lordstown Special Committee already said they're standing orders.

The only reason Rivian has such a high valuation is because Jeff Bezos said he'll buy 100,000 delivery trucks for Amazon from Rivian and has a $700M position in them. Does Lordstown have an $80B valuation? Of course not. It only has a market cap of $1.1B, which is a steal compared to Rivian. You want a good bet on a triple bagger, put your money in Lordstown. Over 20% is owned by ETFs and Mutual funds with Vanguard as the highest holder and most of the institutions are buying additional huge chunks at these bargain prices. Most of these funds are in at around $12-13 a share and buying [[they probably own about 30% now). Why?

Total shares are at 179M and last Wednesday over 108M shares switched hands shortly after the new CEO from the Icahn group was announced. [[Stock went from around $5 to $7.5 to $6.5). Something's brewing.