Inside Lordstown Motors’ Decline: Fires, Shortsellers and an EV Recall | WSJ
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- Опубліковано 15 тра 2024
- Lordstown Motors was once in the race against Rivian, Ford and others to build America’s first electric pickup truck. It acquired a factory from GM and a vehicle design from Workhorse but still struggled to manufacture its Endurance EV as it grappled with vehicle fires, short seller reports and recalls.
After selling its namesake factory to Taiwanese iPhone manufacturer Foxconn, it has now turned to a reverse stock split in hopes of avoiding filing for bankruptcy protection.
WSJ’s George Downs explores the rise of Lordstown and the factors that went into the EV company’s decline.
0:00 Lordstown’s rise
2:13 Lordstown’s decline
3:56 Lordstown sells its factory to Foxconn
5:20 Future of the Endurance
#Lordstown #RIDE #WSJ
Second fire wasn't just a test vehicle, it was a vehicle that had already been crash tested months earlier. Must not have been able to drain all the cells and one finally shorted prior to full disassembly.
"They recalled the trucks... all nineteen of them."
hahahaha ouch 🤣🤣🤣
proud owner of this stock, I'm only down 97%!
Hopefully you only betted what you were willing to lose.
Hopefully it just goes to 0 so you can atleast say you bought a complete failure lol
Me too
SAME BOAT! 🤢
Well, there is always tax-loss harvesting you can do.
Never even heard of Lordstown until this video
They were doing ads even before producing a car
Why did they go public without sales 😭🤦♀️🤦♀️🤦♀️
Literally every ev startup, what do you expect, they just want to ride the wave of ev boom and dumb investor seeking the next tesla.
@@gimmick206 it’s dumb. People are stupid. These companies are going public without having a foundation first. 🤦♀️🤦♀️🤦♀️
@@TruCunt again literally every 2020-2021 IPO free money era
@@gimmick206 I get it but again if you want a company that’s going to flourish just don’t go public before having a sturdy foundation.
@@TruCunt nope, if 1 thing you need to know about capitalism, it's all about funding and capital, it make sense for the company to do so, what doesn't make sense is the investor that doesn't do their due diligence.
Is this a good time to buy stocks/crypto in the Europe? I know everyone is saying stocks are at a discount and all, but just how long will It take for us to recover, obviously there are strategies to manoeuver in this present market but these strategies doesn't come common to the average folk, or am I better off putting my money elsewhere.
I'll suggest you find an investment coach or someone with market experience before the 08' crash to guide you amidst this inflation.
@@DailamiPuang I agree, that's the more reason I prefer my day to day investment decisions being guided by an inv-coach, seeing that their entire skillset is built around short & long term holdings for profit realisation, coupled with the exclusive analysis they possess, it's near impossible to not out-perform. I've been investing with a coach literally for 4years, and have accrued approx. $1.4m in net-profits thus far.
@@peterwilliams6361 congrats. this is huge! mind sharing info on the coach that assists you? cos i’ve got a bunch of stocks that keeps tanking and don't know if its best to just dump amidst ongoing inflation.
@@DailamiPuang I am guided by *Robin Brezik* I found her on a CNBC interview where she was featured and reached out to her. She has since provided entry and exit points on the securities I focus on. You can look her up online if you care supervision.
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Never heard of it. 😒
It was stupidity from the start! Without PMF , public listing was ought to be catastrophic!! Could have raised Privately from VC funds rather!
Once the traditional guys gets on with the times, no ev startups will make it. Rivian might have just made it out the door but it’s also on treading on thin ice…
Not really true. There will always be room for startups to succeed and thrive.
Poor folks of Lordstown, Ohio. The rust belt grows
And the south fills up!
#472👍😤When the large share holders dumped their stock it was the proof they were crooks and the company was on the way out. What pigs?!
A story similar to Nikola but much more pathetic. The only winners in both cases were the ones who sold their shares at the peak of their valuation.
Im most sorry for the workers(both Factory & Office) & the pending bankruptcy will not have their wellbeing in priority of course
They had the hub motor too. Wow
Another fake it until you don't make it tech company.
And now they actually filed for bankruptcy
I love this comedy series.
Totally fine name for a town in ohio, confounding name for a car company.
Lordstown has a similar chance as tesla - cheap factory.
Problem was the bet on a truck . Batteries like efficient light cars.
No one should have been allowed to sell their shares.
Dude the whole thing was a Scam from the get go. Pump and Dump at it's finest.
Klimate propagandist... NOTHIN like the way u said sir !@, they probably put specific vaporize ev close to ur pump/ev station , using lordstown' & gigatesla' & mexican' factoryplant + evmanufactures. U knew these pupilt tricks . . . . . Theyonly care about how to mad3 americans provid3s them needs using am3ricans capitalis ar3a
GOD in Jesus name 》 the only system breaker 🕊🕊🙌🎼♥️🎼🙌🎼🕊🕊🔥🔥
Im surprised land rover didnt buy them.
They should make either a SUV or a delivery van.
what is lordstown Motors?
Downvoted because the WSJ didn’t do any due diligence, and Hindenburg Research are the real heroes of this story.
Go Rivian Go
Never heard of this company.
How many ways do you declare them dead before you finally bury them?
I invested in this company sadly from the lies told to investor. Kinda sucks how many people lost money and won’t get anything. SEC will fine them and get their money but shareholders won’t get anything. Burns should be put in jail for life.
Uuuughh the EV mail trucks from a company that doesn’t make EVs and then the announcement that only 10% will be EVs. That money is gone.
I won’t still buy Ford and GM in my life. My first car Ford Escort failed starter in cold freezing winter. GM Buick SUV sponsored by Tiger Woods stopped in the middle of highway passing Texas on the way to New Olreans. Ford and GM are no thanks for our family.
Getting in the e v game late is a waste..
Y'all, they printed the Internet to highlight, literally, snippets and headlines.
Looked bad from day 1. thanks
Why not build a nice light cheap EV. All those heavy SUVs and pickups are bad for the road and deadly for pedestrians
The name is awful. Plus it looked and felt cheap. No surprise they went bankrupt. Build a desirable product with quality, innovation and convenience and it will sell.
To be fair, the truck looks way better than Rivian.
You're trolling. Rivian's are gorgeous, this is hideous.
Yeah right, Rivian trucks look 100x better than this. These trucks look like a straight rip off of Ford F150s.
@@gregorywilliams2962 Even worse, like a rip off of a Silverado.
get two horses and tie them to your car to get real horse power
I actually purchased their stock and lost money lol
John 3:16-21
WHO?
It was a pump and dump. Lol
Who paid you to write this article? See you soon in the court!
Who in their right mind would buy stock in this garbage of a company????!!
The amount of mismanagement and, I'm pretty sure overinflated salaries, is beyond stupid.....😊
Kek, now they are bankrupt
Lol😅
📊✊⚡💧🌱☇🌞🚘🚌🚐🚉👍
Grift? …Grift
Kの呪い？
😂😂😂 loosing 15k
Do not buy poor american quality cars
About a video on a decline of walstreet journal, ahaha I havent heard frok this clowns in years ...
its a grift
the most ugly vehicles
why anyone would listen to donald trump on business matters is beyond asinine
They are all junk and are gonna cause a greater harm to the environment than the dam gas vehicle..