6/28/2023
Obama had Solyndra, Trump has Lordstown. Lordstown was begun via an SPAC,money in search of an idea.
It went public in 2020 trading as high as $400. Now just three years later it cannot comply with its agreement with Foxconn to buy the former GM plant.
This is another example of social mood on boil. The idea that the firm would build a Tesla style pickup with no experience is the sort of thing seen when investors are cresting a mania, the FOMO fear of missing out is too great and obscures judgement.
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