Lordstown Motors JUST Flipped

hey everyone me kevin here okay let's

talk about lordstown motors so

last week lawrencetown motors got

absolutely devastated and

they just popped a little bit in the

market today and i want to talk a little

bit uh

you know about why and what's happening

here so let's start by

just looking back here over the past few

days so this has been lordstown it's

kind of been moving a little bit in the

momentum place

and we've seen it have some pain

specifically last week where we've had

sharper declines where we've gone from

1566 to all of a sudden suddenly uh

well it's all of a sudden down to about

10 dollars and 68 cents we had

this massive decline here uh i mean five

points on a 15

i mean it is massive we've got i mean

33ish percent decline here we had

another

we tried climbing back to about 11.65

quickly fell back down to about 9

20. today all of a sudden though we did

get a little bit of a boost from about

the 9 30 levels we uh opened up right

around

yeah it looks like we opened about 9 22

to 9 30

and right now we're trading at a high of

10.64 cents

within this last hour candlestick here

up 7.12 percent currently sitting at a

last price of 9.92

and questions are coming up as to why

lordstown is popping a little bit today

here's an article explaining slightly

why but first i want to mention

why first we saw a decline last week

one of the big reasons we saw lordstown

just get utterly pummeled

last week has to do with an 8k they

released which is just a current report

where in the current report

they declared and we pulled this up on a

live stream last week it was pretty

blunt you could see this on their

investor relations page

they they declared that they are unable

to include any or or project

any opportunities or abilities to

actually deliver

vehicles this year so no vehicles to get

delivered in 2021

they also said they would only have

enough money to in 2021 maybe produce

one or two beta vehicles

and that in 2022 they'd be able to move

into production

if they were able to raise more money

but to be able to raise more money

they'd probably either have to issue

more debt or they would have to issue

more shares and sell those

which would dilute everybody who's

investing in the company so that was

really bad news in fact they even

specifically recommended that people

don't invest in the company

it was kind of like a cya you know and

then they also said there's a serious

going concern for the company

that is uh sort of a fancy accounting

term for basically like we might not

survive we might go bankrupt so anyway

uh

now this just came out here and it here

says this is from street insider

lordstown has binding orders for first

two years of production

okay great so let's hear this because we

also just had the cfo and the ceo

leave which is also not good so

here's finally like a little bit of a

breath of

fresh air all right so detroit

laura's town motors has firm and binding

orders

for the first two years of production of

its electric pickup truck the president

said on tuesday

sending shares up eleven percent

currently up about seven percent

uh quote currently we have enough orders

for production for 2021 and 2022.

personally this is a little um sounds a

little convenient to say right after an

investor relations release

you said we're out of money and we can't

produce anything

so i want to make this this very clear

and this is the first time i'm reading

this but i want to make this very clear

when a president of a company that just

got wrecked comes out and says hey

guys we have enough orders for 2021 and

22 production

i'm thinking to myself that's great how

are you going to pay for it

given that you just told the world you

don't have enough money

so then he says i don't know the exact

okay hold on let's get rid of this

i don't know the exact facts of the

legal aspect of that

but they're basically binding orders

that are committed here in the last two

weeks

reconfirmed orders he added asked when

they were binding

they're pretty solid and i think that's

on the light side or conservative side

what kind of crop is this i'm sorry but

like wait

the president said at an automotive

press conference the firm

these are those are firm orders we have

for those two years

i don't know the exact facts of the

legal aspect of that what does that even

mean

but they're basically binding orders

that are committed here in the last two

weeks and reconfirmed

okay so you call people up like hey you

still good with your pre-order on on

your truck

for lordstown because we need to put out

a good press release

call me jaded okay call me jaded that's

just what i'm seeing right now here

in march lordstown shared slump after

hidden right hinberg had attacked them

back in march

uh we on monday heard that the ceo and

cfo left

they resigned and acknowledged they

overstated the quality of pre-orders in

the trucks

and i think that's why you're having the

president now come out and say well we

have

at least two years of good pre-orders

sec has asked the company for

information related

to their pre-orders gm owns a small

stake in the startup

well they also owned a small stake in

nicola

basically got gifted a steak nicola

okay yeah to me honestly this is not

actually great news for lordstown like

when i read that

i'm like dude why would you hold a press

conference and go

yeah there are basically orders that are

good

like what what are you saying

you're the president of lordstown motors

and you're coming out to a press release

and you don't have the proper details

you got to be kidding me so

that makes me nervous okay we get two

executives that leave

we get uh the attorneys for the company

putting together sec documents that are

saying we're basically going bankrupt

you get a president that comes out and

says we basically have enough orders for

2021 and 2022 but their sec report said

even if they have orders they might not

have money to actually produce those

orders

they barely have enough money to get

their beta vehicles done this year

and they'll have to raise a lot of money

going into 2022

which is also not good for the

shareholders so all in all

big big lordstown motors bottom line

here

i'm not happy i'm nervous i'm not a

shareholder

uh i uh i dumped all of my shares

well i had a few options we had a few

swing options and i think i got out with

like an 1800

loss uh right before like the big red

candle stick came so i felt

really good about that not that the

company went down but really good that i

was able to get out

but look at this this bounce right here

we've got the bottom

we know we're trying to get back to that

18 level here but folks

this this lid is going to get moved down

hardcore

uh if we get uh if we continue to get

this sort of um

bad news coming out of the town now part

of you might wonder like well how bad

can it get like can it really get any

worse

yes they could literally sit in the

toilet and then issue shares and chairs

and chairs

and this ends up becoming a penny stock

sub five dollars so yeah

and i'm not trying to like fud lordstown

okay just trying to be transparent so

anyway those are my thoughts

it makes me a little nervous and don't

get me wrong like i

love the concept that lord sounds going

for but that kind of press release

that's that's a bs press release okay

like i call bs there all right folks

thank you for watching this on lordstown

let's move on

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