Lordstown Motors - Can We Depend on Lordstown Week?

Psalm Chapter 68 verses 4-5 state, "Sing to God, sing in praise of his name, extol him who rides on the clouds; rejoice before him - his name is the Lord. A father to the fatherless, a defender of widows, is God in his holy dwelling."

While all that I do needs to be driven by God's Word through the Bible, I must continually look to place my priorities accordingly - honoring God is paramount.

When dealing with more speculative investments like Lordstown, it is equally important to acknowledge the level of risk involved and set expectations in unison, attempting to mitigate potential pitfalls.

Lordstown Motors (RIDE) has been up, down, up, down, and for an average investor, this seems like a never ending saga. For a so-called "ape", it's just another day. After getting some very positive NEW news on Tuesday from the management team courtesy of the Automotive Press Association, APA, today's news once again is a counter blow.

Essentially, at the APA, comments were made regarding binding orders - Lordstown had them. This has been updated per the 8-K filing today to negate such comments and to use previous descriptive language for vehicle purchase agreements that states:

although these vehicle purchase agreements provide us with a significant indicator of demand for the Endurance, these agreements do not represent binding purchase orders or other firm purchase commitments.

As such, the SP is well.......

Those darn elusive binding agreements, it was the core negative outcome of the Sullivan and Cromwell report as well. So with new management's immediate gaffe, it begs the question, will anything change during Lordstown week?

I'm holding with a $10.79 average cost basis, and a realized 54% return from last year to boot. Unfortunately for now, Lordstown remains in a defensive position, where the company needs to prove itself. Tomorrow, I expect the SP to settle around $10-10.50 per share (aside from any news, but that may be wishful thinking!). Next week is going to be pivotal - the new management team will need to redeem themselves from this week's blunder and hit one out of the park. This remains to be seen, despite continued promises, and investors will need to scrutinize what is said. The last thing that can happen is a walk-back from Lordstown week, as this may signal more cause for concern.

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