There was an electric vehicle stock I was watching for awhile (WKHS) hoping for a good time to short. All their reports showed what I believed was an unviable vehicle, there was simply no way to produce it that was anywhere near gross margin positive and they didn't have the money nor access to capital to lose hundreds of millions proving that out. All the economics of the company was going to zero, and they had a ticking time bomb of debt they were about to default on.
Shortly before this debt time-bomb went off, Trump magically showed up tweeting in support of the company and alluded to a deal getting pulled off with GM. [] Of course, this ended up being spun off as Lordstown motors, a company that has failed horribly, including Hindenburg Research publishing a video of one of the few trucks they had literally catching on fire on the road while the CEO was simultaneously claiming they had hundreds of millions of dollars in solid orders (later fined by the SEC for that and barred from being an executive of a company for N years).
I still don't understand how Trump magically got involved with this penny stock at the 11th hour, but I can tell you I feel something very fishy happened there.
The man scammed his own supporters twice with crypto scams. He, of course, is not at all opposed to market manipulation or other types of financial scams
Shortly before this debt time-bomb went off, Trump magically showed up tweeting in support of the company and alluded to a deal getting pulled off with GM. [] Of course, this ended up being spun off as Lordstown motors, a company that has failed horribly, including Hindenburg Research publishing a video of one of the few trucks they had literally catching on fire on the road while the CEO was simultaneously claiming they had hundreds of millions of dollars in solid orders (later fined by the SEC for that and barred from being an executive of a company for N years).
I still don't understand how Trump magically got involved with this penny stock at the 11th hour, but I can tell you I feel something very fishy happened there.
https://www.cnbc.com/2019/05/08/trump-tweet-sends-penny-stoc...