Yeap. Not so much from Lordstown. But people worry about their order book from Lordstown. Their new order book is mainly from Lordstown and First Solar.
now a day, tech market oversea play dirty, last section the market related tech chips stock all go higher due to shortage of chips... suddenly US side say wrong estimated then all the tech related chips like MPI all crash down. I mean they purposely to spread the news.......same like other's nasdaq market, US say high inflation and bond yeild go high cause the equity down. just a news... only
Numbers are from various IB research sources. Also mentioned cash collection c.RM80-90m (of c.RM200-250m order book from Lordstown) and that cash collection is on track.
Orderbook is not revenue yet but they are imputed into consensus revenue projections which are subject to revisions. There should be more clarity coming up in reports and media in the near future.
Do assess the risk yourself and do your due diligence. Overall good company but potentially shady customer. If cash collection is according to plan, it should be fine. Potentially many scenarios.
It is about the future revenue, profits and free cash flow per share that determines the value of a stock.
From wsj, Steve burns did not really refute the reports. So, there are a lot of uncertainties lingering around. Hopefully, CEO Tan could clarify further on this matter. In the meantime, let mkt decides the fv then.
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(Wall Street Journal) -- A new report by short seller Hindenburg Research took aim at electric-truck startup Lordstown Motors Corp., saying the company misled investors about the strength of its truck preorders and the progress it is making toward putting its first model into production.
Lordstown Motors Chief Executive Steve Burns said the report contained half-truths and lies, and that the short seller has a motivation to hurt the stock before the company reports its first quarterly update as a publicly traded entity next week.
The Wall Street Journal hasn't been able to verify independently the accusations.
The startup is named for the Ohio town where the company purchased a dormant former General Motors Co. plant in 2019. GM acquired a small stake in the electric-vehicle startup. A GM spokesman declined to comment.
Shares of the company fell 16.5% Friday following the report. Hindenburg -- which last year targeted another electric-truck startup, Nikola Corp. -- disclosed that it holds a short position in Lordstown Motors, meaning it stands to profit from declines in the stock.
The New York-based research firm, led by Nathan Anderson, described Lordstown Motors' order book as a "mirage" and said the startup paid an outside consulting group to generate preorders for its truck in advance of a deal to go public in 2020. The report cited documents and conversations that the firm said it had with former employees and business partners.
Mr. Burns confirmed the company paid consultants to generate preorders that were understood to be nonbinding as a way to assess market demand, but denied it misrepresented its preorder book.
"We are not stating these are orders and have never stated that," he said.
Lordstown Motors listed last year through a deal with special-purpose acquisition company, or SPAC. The company has yet to sell a vehicle. It is targeting the commercial-truck market, vehicles typically used by fleet operators.
Lordstown Motors and Mr. Burns have regularly pointed to its preorder book to underscore the strength of demand for its forthcoming commercial pickup truck. "Most of them are signed by the CEOs of these large firms," Mr. Burns said of the preorders in a CNBC interview in November. "They're very serious orders."
In a regulatory disclosure in December, Lordstown Motors said it didn't have any current customers or pending orders, and there was no assurance the nonbinding preorders would be converted to sales. In January, the company said the more than 100,000 reservations for its Endurance truck were nonbinding.
Hindenburg said the orders weren't only nonbinding but also "largely fictitious" and didn't represent "genuine demand." Some preorders for 1,000 or more trucks came from businesses that didn't operate commercial fleets, the report said. Some companies told the firm they didn't have the means or intention to buy the trucks on preorder, the report said.
Mr. Burns said the company is confident there is demand for its trucks and the preorders were a way to gauge interest as it preps the factory to build for certain volumes.
Yu_and_Mee Lordstown is the customer to Greatec? dont invest something you dont really know the background....you know that your money is hard earn ...just my 1 cent
Many gullible trader will take the hindenbug "report" as a fact and not take extra effort to research the validity and timing of such news. Slimy tactics by short sellers? I would think so.
actually how much of orderbook is come from Lordstown? I see report only mention they hit new high with this customer btw didnt mention how much this company contribute...
GREATEC, a brilliant Robotic or ATE stock i.e. growing at record QR PAT would stop the selldown at FIBO -61.8% level at 508 zone. As always a meaningful REBOUND could come anytime soon.
Inari plunge is a knee jerk reaction. Different from Greatech. If the report by the research firm is somewhat true. Meaning Greatech order book, revenue and net profit will be affected.
good point investmalaysia8. Inari has a long-term customer in Broadcom/Apple. They have been around for a long time.
Lordstown listed last year through a SPAC. Lordstown is not Tesla with proven product and technology. Keep in mind they are allegations until proven true. If proven untrue, good. If proven true, it is not good. Hopefully more clarity soon.
Why ppl suddenly act like Lordstown report is not sustantial to Greatech...?
Greatech valuation is SO HIGH becz of its potential link to EV sector (and thus the potential exponential growth), and its link to EV is becz of Lordstown....
If Lordstown is a scam, Greatech link to EV is a SCAM TOO....
So you think Valuation still can go above even 45?
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
humble1102
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Posted by humble1102 > 2021-03-15 11:49 | Report Abuse
https://klse.i3investor.com/m/priceTarget/58565.jsp