Lordstown Motors Stock (RIDE) could crush 2021! Lordstown Motors wins with Trump or Biden!

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What’s up YouTube, my name is Adam and this is Broke Man Finance.
Either way the election falls, because at the time of this filming, ballot counting is still underway. But either way, there are still pros and cons to both candidates when it comes to the market.
Some companies look to perform better based off of promises made by the candidates. Of course, you have different issues with foreign relations with both candidates, which translates into the foreign markets and companies, etc. For instance international markets would lean better with Biden, but Corporations like tax cuts with Trump.
One of those companies that could stand to benefit from either candidate is the recently Nasdaq listed, Lordstown Motors, ticker symbol RIDE. They officially went on the market just a few days on Oct. 26th after their merger with Diamond Peak Holdings was finalized.
You may remember President Trump having Lordstown Motors and their Truck the Endurance on the lawn at the white house not too long ago, and Trump took some credit for the massive GM Plant deal that took place which is where Lordstown Motors is now in. Obviously if Trump wins, there is a level of attachment with this place and Ohio.
He promised the people in Lordstown, and other nearby areas to not sell your homes, and that he would help bring auto manufacturing back. President Trump has been one of their biggest cheerleaders, and the marketing that comes along with that is valuable.
But investors don’t necessarily want a cheerleader, as valuable as that may be, they want some revenue and capital gains. We want to see that marketing lead to something.
Another catalyst comes from Vice President and could soon be President, Joe Biden. With Election in full swing, many of us are looking for eco-friendly equities to support because we are smart enough to realize that is the future and that’s where we are heading.
So far, Biden has promised to invest $2 trillion in clean energy projects. As well as additional federal incentives to get green, we could see corporations and municipalities clamor to swap out their fleets for the Endurance. Especially if they can get the Endurance at a reasonable price, with additional federal rebates to take advantage of.

Remember the endurance is a fleet truck and Lordstown Motors hopes commercial fleets will take a green approach with its truck.
Here is some good and bad news with the endurance truck. Bad, we likely won’t see any in production until this time next year, that’s right 2021. The good news though, is Lordstown Motors already has over 1 billion dollars in pre-orders for the endurance. That is over 40,000 vehicles. And when it comes time to produce that billion dollars’ worth of trucks, they have a plant with the capacity to produce up to 600,000 vehicles a year. Much more than a billion dollar’s worth.
Like many companies, there is a run-up right before being listed and then a dip after a sell off. Lordstown Motors was no different. This is completely normal. However, Lordstown was already on a downswing since late September, but there is a lot of that going around. As of Nov. 2nd the share price had fallen from a high of around $31.40 to $13.05.
Now, as the election seems to be getting close to an end, investors are foreshadowing less volatility in the government, stimulus hopes are back on the rise, with a closely divided house and senate, our favorite tech stocks are probably safe from regulation from either side keeping the share prices moving in the right direction. All pointing to better market days on the horizon, although we are still in the midst of a pandemic, we’re gonna be ok.
Lordstown Motors was back up 16% to $17.43 at the time of the filming.
If I were going to buy Lordstown Motors stock, now would be the time. It ran up, got listed, continued its trend downward, and now it seems like its rebounding and still at a good entry price. Plus, with all the other stuff I mentioned regarding volatility, 2021 could be a big year for Lordstown Motors, no matter who the president is.
It’s hard to classify any EV startup as a safe bet because they’re all so speculative. But, I like Lordstown much more than some of the other ones out there.
Now they still have a lot to prove before I say buy buy buy like I would with an Apple or Facebook, so it is definitely a proceed, but a proceed with caution.
In fact, many analysts have Lordstown rated as a buy, with a price target of $50. To me $50 seems ambitious.
But I mean, even if it got to $30 a share any time soon. You’re looking at doubling your money.
#lordstownmotors #RIDE #endurancetruck

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