RIDE is coasting downRIDE is an EV Nasdaq Penny Stock. It is in danger of delisting. A major financing deal fell
through. This company is having a hard time getting traction much like MULN and FFIE.
On the chart, price has fallen down into the lower Bollinger Band and is at the bottom
of the high volume area of the volume profile.
My forecast is continued trending down until it gets near to the prior swing low at the
beginning of this week. There the short sellers will liquidate and a new wave of "riders"
will take a ride.
That said, I have bought put options today and expect to sell them out and switch to calls
next week, They are for 10 DTE and should appreciate quite well fairly quickly.
Rideshort
US Stock In Play: $RIDE (Lordstown Motors Corp)$RIDE continues its all time low breakdown, with its latest trading session closing at $9.20. The technical support breakdown of $RIDE since a month ago has tumbled its share price by -18.31%, a loss of approximately US300mil from its market capitalization. SEC is currently investigating the company on the authenticity of $RIDE 100k pre-orders that are months away from its first delivery.
$RIDE operates as an original equipment manufacturer of light duty fleet vehicles. It develops, manufactures, and sells Endurance, an electric full-size pickup truck targeted for sale to fleet customers.
