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Lordstownstock

$RIDE - The wedge continuesHi all, Nothing's changed with Lordstown's position. This post relates not to Lordstown's financials or fundamentals but to chart technicals. In my own data that i follow for all stocks, Lordstown seems to be nothing special and has absolutely nothing going for it. In terms of charting, Lordstown is in a huge bull wedge (which doesn't make sense, i know, but there it is...). The wedge continues. A couple of the previous candle wicks from the last 15 days have extended the wedge's range slightly to a new possible low of $1.6. That or the wedge is about to be broken out of for reasons i'm not sure of. Suddenly all other companies e.g NKLA are considering a reverse split to get them out of a similar position like Lordstown had. Funnilly NKLA is an actual scam with it's president Milton being convicted of fraud and all that, meanwhile our boi Hightower with his wheel motor hubs isn't doing terribly in terms of the hardware/tech and actually has something that doesn't need to be pushed to make it roll on a road like NKLA did. Excessive bearishness on Reddit boards and such are making me bullish on this stock. I'd like to think there's a possibility that RIDE will make it out of the hole. If it does, all these bears are going to have their accounts blasted. I re-iterate that i think that for surprising reasons, this wedge will break out eventually. My investment horizon on RIDE is long term and not meant to be a short term trade. The wheel hub technology in my opinion could actually be very big as long as Ride can make it out of it's hole. The market is moving upwards with no regard to any of the doom and gloom being blasted to us by the financial media. During this time, RIDE has underperformed or as it should be said... shorted. This is a good way to do things if you're a short seller because if the market is eventually bound to correct hard, when it does, market makers and others will take care of shorting all stocks including RIDE for you and the resulting dump will be pretty damn big. Not only would you have managed to make a stock go down (and against the market) but when the market actually dumps and all stocks have to follow, it'll move down with the market for free. The problem arises when the market isn't giving you your all so awaited correction within a certain timeframe. If this happens, the short becomes more expensive to fund. Since RIDE has already been long time favorite short since 2021, i believe that at any time now, any kind of surprise by Lordstown itself can catch plenty of the institutional bears by surprise, but really not as much as the retail bears who have gotten cushy with short selling on Lordstown. If and in my opinion, WHEN Hightower is done with the current Foxconn "situation", some shorts could get blasted out of the water. Persistence/conviction shorting into RIDE's good news will be obvious what everyone will be doing for another 1-2 years after that because shorts just like longs want to avoid the reality of things. Then those shorts will get blasted out of the water taking us higher, the cycle would continue. Again, this all will happen only and only if Hightower & Foxconn happens. Foxconn isn't in a great (but not terrible) place either with Revenues down 11% Y.O.Y due to their TV/Computer screen section. In my opinion diversifying into EV regardless of this issue with revenue would be a good idea just to diversify risk with what exactly happened with Foxconn & Sharp. Hopefully Foxconn's management sees exactly that and will know what to do about it. My position as usual is 1000 x $0.5 calls bought and 1000 x $0.5p sold for 2025 pre-split. Hoping to add more as the price touches sub $2 due to the insistent bears conviction shorting this stock on the status quo. The status quo in my opinion has made everyone too cushy, if it changes as these things sometimes do, that'll be a nice sight.
RLong
by leenixusu
$RIDE - TA Bullish Wedge, future grim.Lordstown motors is what might be the end of the bullish wedge. There may be a month or two left in it before anything really happens. My research on RIDE is not deep, not great, not bad either. --Fundamentals-- RIDE's hub motors are the main drive (pun) here. Foxconn showed some interest initially and did the deal with them but is not showing up to be a daddy figure when RIDE is struggling with it's delisting notice. They are relying on anyone interested in the company to basically fund them and that's not really happening. Rivian and other new EV companies need RIDE to go under because what RIDE is offering as a product is actually good. That doesn't change the fact that their stock isn't doing good and is likely not to do good in the future... RIDE has asked for votes FOR or AGAINST a reverse split to bring it's price back up to a level where it's compliant with Nasdaq's rules. People on social media are "saying" that they are voting against a reverse split which doesn't make much sense if you're a shareholder which makes me think that getting sentiment from social media may not be correct so i'm not gonna rely on social media sentiment from random comments that don't make sense. --Stock/Options etc-- Nothing special going on other than some strange much larger than usual volumes on the 0.5 Call and Puts. As of today the 0.5c had over 1000 calls in volume which is extremely big for this stock and hasn't really happened in over a year. This is either positive or negative delta for the stock, we'll see... based on the direction of the rest of the market, i think this is someone banking on the stock dropping more. -Technical Analysis-- Nothing much for me to say here other than that this may be the end of the bullish wedge... a breakout from here for unknown reasons would be spectacular. If a pop happens here, (don't know why that would happen), i doubt short sellers will have any trouble eventually suppressing it and causing the price to drop even lower than before. If a breakout here is fundamentals based (acquisition/merger/buyout... something) then RIDE would suddenly become a huge long play. Don't forget they are at risk of delisting and there's basically better stocks out there with less risk. I have a small bet of MYX:HUMEIND on shares at around the $5.1 area give or take a few pennies in case this wedge truly does play out. If it fails and i lose my money i won't be too unhappy because i understand the risk. That's all. Good luck. Hoping this really battered and fundamentally bad but sorta good but sorta not very ok stock might do something based on Technical analysis and options flow. Rivian has earnings very soon and is likely to cause RIDE to drop even more due to being same sector stocks. A drop in Rivian will cause RIDE to also drop so it's maybe prudent to wait for that. Lastly, again, that 1000 contract buy at 0.5c was a bit surprising. I hasn't happened in literally years... this is 1 full buy of 1000 contracts. It's not a lot of notional in money, like $30k, so it might be just someone in retail. Who knows. Play safe (or don't, that's up to you)
RLong
by leenixusu
US Stock In Play: $RIDE (Lordstown Motors Corp)$RIDE continues its all time low breakdown, with its latest trading session closing at $9.20. The technical support breakdown of $RIDE since a month ago has tumbled its share price by -18.31%, a loss of approximately US300mil from its market capitalization. SEC is currently investigating the company on the authenticity of $RIDE 100k pre-orders that are months away from its first delivery. $RIDE operates as an original equipment manufacturer of light duty fleet vehicles. It develops, manufactures, and sells Endurance, an electric full-size pickup truck targeted for sale to fleet customers.
RShort
by jfsrev
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