This EV SPAC Could Be Better Than WKHS! Plus, a Bonus SPAC To Watch For BIG Gains!

What's up YouTube, my name is Adam, and this is Broke Man Finance. A channel where we try to help you make the best decisions possible with your money.

Remember to stick around until the end because I will bring up another EV SPAC that you need to be keeping an eye on.

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Workhorse stock has been one of the hottest stocks out there.

Everyone has been talking about them more and more as we get closer to that lucrative USPS contract decision. But who is next to get the hype?

In today's video, we're going to talk about a couple of EV plays that may be just as good or even better than Workhorse is.

The reality is, the EV market is going to continue to become saturated. SPAC's are looking for anything to sink their teeth into because they know having EV and SPAC in the same conversations equals hype, which equals money.

And piggybacking off of Workhorse, their best deal may have already happened. Earlier this year, Lordstown Motors agreed to a reverse merger with Diamond Peak Holdings.

Steve Burns, the current boss at Lordstown and former boss at Workhorse, helped workout an equity stake in Lordstown for Workhorse of 10%.

Workhorse may or may not get some of that USPS contract. Right now, it's entirely up in the air, but they do have 10% of Lordstown Motors.

With everything going on with Lordstown, including being on the lawn with the President of the United States, it has proven to be good PR.

This company may end up being the best deal that Workhorse has going for them.

But, whatever Lordstown is doing, it seems to be working for them. They announced this past Wednesday that they have 40,000 preorders for the "Endurance," which is their EV truck.

Granted, it's not 500,000 Tesla cyber truck preorders that were recently announced, but it's probably not a good idea to do any comparing to Tesla on anything.

Tesla is on a planet by itself; literally, it's called Mars.

Now, those 40,000 preorders equate to approximately 2 billion in sales, per Lordstown. If everything goes according to plan, Lordstown will be trading under the ticker symbol "RIDE," and they believe they will have the merger complete by the end of this month.

The acquisition of the former General Motors Lordstown plant by electric vehicle manufacturer Lordstown Motors and the launch of their Endurance pickup truck is part of the future of Ohio's automotive industry, White House Trade Adviser Peter Navarro told Fox Business Network's "Making Money with Charles Payne" last Monday.

"We started out with trying to figure out what would fit in that footprint, what could we do?" Navarro explained.

When the white house and the President are behind your company, there is a good chance it is going to gain some notoriety and hype.

As of right now, DPHC is trading for approximately $22.90. Suppose Workhorse does get some of that USPS contract. In that case, it is assumed that Lordstown will have to assist on the production side because of the lack of production ability that Workhorse has, so you can guarantee that whatever good news Workhorse gets will be reflected in the share price of Lordstown as well.

#WKHS #DPHC #Workhorse

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