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re: Burrow never in the Heisman House commercials!
Posted on 12/10/23 at 10:43 am to Geaux Tahel
Posted on 12/10/23 at 10:43 am to Geaux Tahel
quote:
It appears Lordstown is no longer. Not sure how it effects JBs contract but maybe he'll be able to do Heisman House commercials now.
Wrong and wrong. I trade in the stock market. Lordstown Motors filed for Chapter 7 bankruptcy protection in June 2023. They still trade on the stock market under the symbol RIDEQ on the OTC market. It’s at $1.37 per share now. If it breaks $2, it can run to about $7 per share. Don’t see it doing much more than that. If it breaks $7, there’s a huge upside. I don’t mess with under $5 penny stocks, but I’d throw some spare change that way for Joe’s investment and ride it up if it breaks those levels. Regardless, Joe is a heavy investor in that Ohio company. He’s not doing any lame Heisman House commercials.
4
Posted on 12/10/23 at 10:47 am to TigersJump
Joe was in a few commercials before he signed that contract. I remember them using water guns or some other toy. Anyone else remember that commercial?
Posted on 12/10/23 at 11:28 am to TigersJump
quote:
Wrong and wrong.
Yes and No.
If you look at Lordstown Wiki, it does appear they are still functioning at some capacity, but it isn't the vehicle production (endurance trucks) and they are selling the project.
As mentioned in my post, not sure how this effects JBs contract but it MAY open up some opportunity to cancel/void a contract.
Lordstown may still have stocks being traded, but that doesn't mean their business model (for which JB signed a contract) is still intact in a legal sense. You don't know the contract verbiage. Nor do I.
Posted on 12/10/23 at 11:58 am to TigersJump
quote:
Wrong and wrong. I trade in the stock market. Lordstown Motors filed for Chapter 7 bankruptcy protection in June 2023
It’s trading OTC (Pink Sheets).
Chapter 7 is the “worst” bankruptcy. It’s liquidation. They sold all of their assets in October. Although their former founder bought assessors back for ~$10MM. But for all intents and purposes Lordstown is defunct.
When the company went through bankruptcy I guarantee they had to default on their marketing deal, or at the very least didn’t renew. There is no way you have to sell all of your assesses to pay your creditors and still hold on to a high profile marketing contract.
This post was edited on 12/10/23 at 12:00 pm
Posted on 12/10/23 at 12:18 pm to TigersJump
quote:
Lordstown Motors filed for Chapter 7 bankruptcy protection in June 2023. They still trade on the stock market under the symbol RIDEQ
Wiki says it filed Chapter 11 (not 7) and that in October a deal was made to sell all of its assets to another company. Stocks in bankrupt companies can continue to trade, but this one looks like it has zero potential to continue in the truck business or grow.
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