Need a new EV stock, $RIVN in mind.
$MULN has fallen. I think I got out at a pretty good time, didn't take as much of a loss as I expected after I found out about the companies true colors.
I still own $CYN, but they are working on the software behind EV, as well as focusing on industrial uses.
I am very interested in consumer driven electric vehicles. Something I have noticed is that every person I meet that owns a Tesla simply loves it.
But, lets be real, how many EV startups will actually end up making it in the long-run? $TSLA is a dominator at the moment, and many other auto manufacturers are starting to make their own electric vehicles, and making big promises on their future production of EVs.
$RIVN is a ticker that caught my eye back when they announced their IPO, seeing that the stock has tumbled since then doesn't look so good.
In the process of doing my own analysis, but a lil busy at work, so decided to post a little bit of my thoughts.
I own $GGPI (SPAC for Polestar, should be approved sometime this quarter). Polestar is backed by Volvo and Geely. Sold 29,000 cars in 2021 and is projecting 65,000 in 2022.
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$MULN Exposed
This stock is booboo, Mullen Automotive is in a lawsuit now for lying big time 🤦‍♂️

Sold my shares, lost ~$ 2

guess i'm never gonna get to drive the Dragonfly. (sadness)

Let this be a lesson to look deeply into what you are investing in. Not everything out there is what it seems.

I feel like this is similar to another one of my hobbies, when trading collectibles, people often try to sell or trade knockoffs, or they may lie about the condition that the item is in in order to sell it for more. I have grown accustomed to noticing these things, but being rather new in the stock trading hobby, I never thought a company could be this deceiving without me realizing it.

I'm glad I learned now though and lost a couple bucks, could have been much worse.

Wondering what I should move this cash into now :)
The EV space is flush with cash and high expectations. Unfortunately I believe most of these startups are doomed for failure as established automakers start shifting their focus to EVs.
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Here's my reason for investing.

Jk lol, the car is great but this company is a little risky.

Quantitively not looking great, EPS to possibly make a positive turn next Q.
Quick Ratio: 0.5
Forward P/E: 1.8
ROE: 532% (being so high may not be good, unsure)
They had a pretty bad surprise on earnings last Q, hoping for the best this time.

I have been trying to analyze my own stocks and find healthy companies. these are a few of the things I look for.
Many Ratios and stuff do not apply to these newer companies though. As they are barely taking off. So it is hard to judge and come to a conclusion. Which makes it riskier imo.

Need to look further into the leadership and other fundamentals of this company but couldn't let the low price slip away, I had already been looking into buying it.

One day they could be Teslas competition. If not, well there goes my 13 dollars, no biggie.

One last opinion, remember when WW2 ended and there was a baby boom? I certainly don't I wasn't alive, but let's just say the past couple years haven't been the best, and I think once the world is back to normal we're all gonna want to have some fun. Covid, supply chains, national sanctions on supplies, and war. What will the world be like once we solve our current issues?
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Would be highly concerned over the fact they had under $100k in the bank at the end of Q4 and only avoided bankruptcy by massively diluting shareholders, and are still massively undercapitalized and behind in tech to potential competitors
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Mullen Automotive
$MULN automotive is down bad right now, thinking about getting in.
Their EV's look so cool 😂

I don't think we will be seeing any big changes/movement on their graph until they start rolling out vehicles. What I am seeing is they are available to reserve right now.
Thoughts? Comments?
Frank Patton's avatar
$12.9m follower assets
So…. That happened
I’m not an APE stock trader nor do I subscribe to meme stock trading strategies. But I did my due diligence on $MULN and bought in. I upped my position this morning by 33%. Man… what a rush!
The dilution and how close they got to bankruptcy, just $60k left in cash at the end of Q4, is terrifying
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Covered Calls - Great for volatile markets/stocks
After trading $MULN yesterday for a small profit, I was able to jump back in today for less than I originally paid ($1.02 and sold at $1.12 in premarket). There is a ton of IV in this stock because it has been extremely volatile. Decided to sell a CC for $10 with a $2.50 strike. This essentially knocks $10 off my $95 I paid for 100 shares. If the stock is more than $2.50 on 03/18, I sell those 100 shares for $2.50 and keep the $155 ($250 - $95) and the $10 premium. If it is less than $2.50, I keep the shares and the $10. CCs can be a great way to make additional income in volatile markets. The only drawback is you have limited upside, which I am fine with.
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