Here's my analysis on Lordstown Motors (RIDE) which will be going public when it merges with DiamondPeak Holdings Corp (DPHC)! Is it the best SPAC EV yet? Could be..

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Boy oh boy are we in a fad market right now. It's raining SPACs and it's raining EV companies, each of them focusing on their own little corner of the market. Lordstown Motors (RIDE) will go public by merging with the SPAC DiamondPeak Holdings Corp and they are in an interesting spot. I'm not going to invest in the company short term but I will keep it on my watchlist and will consider it when they get closer to production.

The stock is definitely a better play than Fisker, because they have most of the pieces of the puzzle in place already. If you think of Fisker (SPAQ), they don't have a factory to produce their SUVs and they're not even locked into an agreement for their technology platform. At this point it is more a design and concept than a real company. Then you have a company like NKLA that's also facing some of the same problems. They literally just broke ground on their factory, meaning they won't start full scale production for another 2 years.

At the other end of the spectrum you have Lordstown Motors. The CEO Steve Burns played it smart - he already has the factory, which just needs retooling, and he's licensed the technologies from 3rd parties already. So all they have to do is combine the ingredients and start pumping out pick up trucks! There is much less risk in this stock than in some others.

However there are also downsides to it. The fact that they aren't anywhere close to making profits and won't close until Q4 means that for the next few months it is dead money and won't be a good play. So to me this is a great company to keep on the watchlist and look at long term.

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DISCLAIMER: I am not a licensed financial advisor, CPA, attorney, etc. I do not know you or your personal situation. All investments involve some risk, and you should always consult with a licensed professional when in doubt.
These videos represent my views and opinions only and should NOT under any circumstance be considered financial advice. I am simply chronicling my journey to financial independence and giving my thoughts on various investments and strategies. They may or may not be applicable to you.