$RIDE - TA Bullish Wedge, future grim.
已更新
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 HHUMEIND 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)
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 HHUMEIND 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)
注释
Sold 1000 puts 2025 and bought 1000 calls 2025. There's some serious fudding in the media about production halts which were confirmed to be untrue and just purely fud. It's definitely a bustout.Apparently there was some talk with an Apple executive and a Lordstown exec from what i heard. (Do your own research to verify).
Lordstown is likely to either get busted out of business, to have some of their assets purchased or to be bought out fully.
Foxconn went back on their word on bad faith last minute in an attempt to not take a hit by buying the stock at $1.7 while the price is at $0.35. Now no one will partner up with Foxconn after a shitty move like that.
This opens up the window for someone else to come in or not. This is all highly speculative. The company has until October to get their price above $1 before delisting.
注释
The next level is $0.198Watch it hit it next week. Getting ready to sell more Puts and buy more calls into this dump.
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