Former GM Executive to Start a Blank-Check Company QELLFormer GM Executive to Start a Blank-Check Company Qell Acqusition corp
Engle has co-founded a SPAC called Qell Acquisition Corp., using his own cash and a healthy slug of money from PIMCO Investment Management, the giant investment firm with almost $2 trillion in assets.
And why not? While GM has beaten market returns by a few points this year, most auto stocks have been flat or down in 2020. Meanwhile, Tesla Inc. has tripled in value this year and investors have poured cash into at least 15 EV-related startups like Nikola, Fisker Inc. and Lordstown Motors Corp. All in, blank-check firms have raised $70 billion this year.
Engle is looking to acquire a company that will profit off the rapid changes happening in transportation no matter which company wins the EV or even self-driving game. He is looking at companies that can supply charging network hardware or services, or software and data collection for electric or self-driving vehicles.
He sees opportunities in autonomous technology, telematics and infotainment. Power sports and motorcycles are just being electrified, which also present early opportunities. There is less competition, so plug-in bikes that serve Asia could be a strong play, he said. There are also emerging companies that will build small electric aircraft for short-haul flights or to ferry people in congested cities.
Engle said Qell will consider companies with no revenue, but he prefers “real companies that have a product and revenue or are soon to be bringing in revenue.”
“If the money that gets raised is applied to emerging growth companies that have a revenue stream and a line of sight toward significant growth, they have a better chance,” Spitzer said. “If SPACs have no track record of putting money into an early-stage company, I’m skeptical. Engle has been in that world and knows it.”
www.bloomberg.com
Electricvehicles
Broke the pennant formation, waiting to clear resistanceAfter a good run and a break of the pennant pattern, the only thing waiting for a higher target is the red resistance line. With good news (Electric car), expecting to clear the resistance and break through. Next target set around $155
ReversalHaving a reversal from reversal tail at 1.66. Starting Bull run this week. All eyes on EV. It was $5 at end of November it can go back.
Lightning eMotors to List on New York Stock Exchange Through GIKUrban Commercial Zero-Emission Vehicle Company Lightning eMotors to List on New York Stock Exchange Through Merger with GigCapital3, Inc.
Urban Commercial Zero-Emission Vehicle Company Lightning eMotors to List on New York Stock Exchange Through Merger with GigCapital3, Inc.
Production expected to reach 20,000 medium duty commercial electric vehicles by 2025
High revenue visibility with 100% of projected 2021 revenue of $63 million and 25% of 2022 projected revenue of $354 million under firm purchase orders as of today, and strong line of sight to $2 billion in projected 2025 revenue, including $1 billion from existing fleet customers
Transaction supported by $125 million of gross proceeds from the issuance of equity and convertible financings in a Private Investment in Public Equity (PIPE) transaction, including a commitment from BP Technology Ventures and other leading institutional investors
Pro forma implied equity value of the merger is approximately $823 million, at $10.00 per share.
The transaction will be funded by (i) the issuance of approximately $539 million in new common stock of GigCapital3 to current holders of Lightning eMotors securities
(ii) cash from the GigCapital3 trust account of approximately $202 million, assuming no redemptions by GigCapital3’s stockholders.
the proposed business combination is expected to be completed in the first half of 2021.
finance.yahoo.com
Electric Last Mile to List on Nasdaq Through Merger With FIIIEV Company Electric Last Mile to List on Nasdaq Through Merger With Forum Merger III Corporation
Pro forma implied equity value of the combined company is approximately $1.4 billion at closing, at a $10.00 per share price and assuming no redemptions by Forum shareholders.
ELMS expects to launch its Urban Delivery van as the first electric Class 1 commercial vehicle in the U.S. market in the third quarter of 2021
Transaction supported by approximately $155 million in fully committed PIPE and related financing anchored by institutional investors including BNP Paribas Asset Management Energy Transition Fund and Jennison Associates LLC
Approximately $379 million of gross proceeds expected from the transaction to be used to fund operations and growth
Anticipated proceeds from the proposed business combination expected to sufficiently fund initial product launches
ELMS has over 30,000 pre-orders from customers including leading brands and some of the largest fleet managers and dealers in the country.
The boards of directors of both Forum and ELMS have unanimously approved the proposed transaction, which is expected to be completed in the first quarter of 2021.
finance.yahoo.com
SBE Bull Pennant... BUY NowSBE getting ready for another leg up, bullish with EV hype. Watching for a breakout of this pennant, seeing a move back to ath and possible new ath coming.
Key levels to watch
Resistance: 39.74, 42.32
Support: 34.10, 30.86, 27.76
EV Company Last Mile to List on Nasdaq Through Merger With FIIIEV Company Electric Last Mile to List on Nasdaq Through Merger With Forum Merger III Corporation
Pro forma implied equity value of the combined company is approximately $1.4 billion
ELMS expects to launch its Urban Delivery van as the first electric Class 1 commercial vehicle in the U.S. market in the third quarter of 2021
Transaction supported by approximately $155 million in fully committed PIPE and related financing anchored by institutional investors including BNP Paribas Asset Management Energy Transition Fund and Jennison Associates LLC
Approximately $379 million of gross proceeds expected from the transaction to be used to fund operations and growth
Upon closing of the transaction, which is expected to occur in the first quarter of 2021, the combined company will be named Electric Last Mile Solutions, Inc. and will continue to be listed on the Nasdaq Capital Market under the new ticker symbol, “ELMS
To date, ELMS has over 30,000 pre-orders from customers including leading brands and some of the largest fleet managers and dealers in the country.
www.businesswire.com
CAN'T SPELL GAINS WITHOUT NGAWho amongst us likes the color red? If you're color blind don't answer. I know I don't, so I READ into NGA's chart a little more. This thing is so solid the words liquid and gas literally are not in its vocabulary. And I know what you're thinking, oh wow another EV company, NKLA did so well. Well let me put those fears to rest much like Nikola Tesla himself was put to rest many years ago.
It's ELECTRIC.
Don't be SHOCKED to see $20 soon.
I literally reCOIL at anyone who doubts its potential energy.
tl;dr buy buy buy (no backstreet boys)
NIO over 48.47The earlier frenzy has worn off a bit and more importantly this has cooled down. Some consolidation and chop which may clear up over 48.47.
Cramer Says Arrival Has The 'Best Claim To Be The Son Of TeslaCramer Says This EV Startup Has The 'Best Claim To Be The Son Of Tesla,' Gives Blessing To Buy SPAC Stock
The “Mad Money” host said on his CNBC show that if the stock “comes down below $17.50, you can buy it hand over fist, because this one has the best claim to be the son of Tesla — or daughter, to break the tyranny of that awful cliche.”
The automaker, backed by United Parcel Service, Inc (NYSE: UPS), Hyundai Motor Company (OTC: HYMTF), and BlackRock Inc (NYSE: BLK) is “revolutionizing the entire auto industry, and they own a ton of intellectual property,” according to Cramer.
“They make all their own components, they’ll be cost competitive with gasoline and diesel, and that’s why Arrival got that $5 billion valuation from the get-go,” explained Cramer.
Cramer said Arrival’s microfactory concept could have an impact beyond auto industry and it could “revolutionize manufacturing.”
“If they can make an electric van or truck with a lower cost of ownership than the fossil fuel-powered alternatives, that’s a whole new ballgame,” the former hedge-fund manager theorized.
Why It Matters: The merger between CIIG Merger and Arrival was reported last month. The former is backed by Peter Cuneo, the former CEO of Remington and Marvel.
BlackRock has pumped in 8 million into Arrival, which would allow the London-based company to open a manufacturing facility in the United States. stock
UPS has placed an order of 10,000 electric vans with Arrival, worth approximately $500 million.
#TSLA to $780 Goldman Sachs upgradeIll be looking for #TSLA above 599.10, with a possible target at the the top trend line which coincides with Goldman Sachs new price target of $780.
This area also corresponds with the S&P 500 listing.
Real clear trend running into the top of an older resistance line and the $599.10 resistance.
Looking for volume on the upside running into that area if we continue this direction.
Should we find support above $599.10 and above that trend line, we could see some a big upside.
The top trendline would be resistance for me, with support below it, but we may start trading into the bullish megaphone formation created from our current resistance trend and the longer term resistance line coming from earlier in November.
Where NKLA stoppedI love to find examples of where my favorite technical level works. NASDAQ:NKLA is a great example of a stock respecting the 50% retracement level from its down move back in September.
I didn't play this move but my trade in NYSE:NIO is definitely benefitting from the crash this week in EV. If only we could have seen this coming! See my video below for why I did.
41.50 my stop loss zoneNIO hourly chart looks good for a possible reversal here tomorrow if it bounces of the bottom trend line downtrend channel. Bearish if we break 41.50 bullish if we stay above 45.00 level
My NIO shortLast week on November 23rd I took a short trade on NYSE:NIO . I also talked about the trade and the additional confirmation of what was going on in the EV sector in the video linked below.
I wanted to have this trade marked for posterity as it was just a great example of the same strategy I use on all instruments and all timeframes. It's very simple...
Break of Support/Resistance
Pullback to confirm that Support/Resistance for entry
A target that can gives 3-to-1 Reward/Risk
This is the recipe I have used all year playing stocks and making consistent gains. It makes me respect Support and Resistance and stay PATIENT for setups rather than jumping in.
Significantly Increased Sales to the Rising Chinese EV MarketChina Automotive Systems Significantly Increased Sales to the Rising Chinese EV Market in 2020
- 120,000 steering units shipped for electric vehicle ("EV") models so far in 2020; may reach over 140,000 units by year end 2020
- targets sales of over 200,000 steering units for Chinese EV vehicles in 2021 -
- Sales of Chinese EVs approximately doubled year-over-year to 144,000 units in the month of October 2020. With this rapid growth of EVs occurring in China, the outlook is for booming growth as the Chinese government has set an EV car target of 25% of all new cars by 2025.
- Other new products are under development to meet the future needs of the surging Chinese EV market."
- Our portfolio of EPS products has the potential to become a major growth channel over the next few years as we further capture market share in the burgeoning market for Chinese electric vehicles.
finance.yahoo.com
$WKHS Workhorse Group INCYTD VIEW
Auto Fibs
MA on 20 for length
MACD looking VERY BULLISH
Well, what can I say??
BUY WORKHORSE!!!! I've held from the 16th till now. Huge mistake not really checking out my move but I held strong and now above my mark of $23.
Still waiting on the greatest news ever I assume but at the same time, watching to see if this can continue on its roll. I would love to see $46 to be honest. Patience would be KEY!
Very Proud of workhorse. I actually love the company idea and what they've accomplish.
Good Stuff Work Horse!
NASDAQ:WKHS
The nerve of my friend calling this company pony horse... lol ASSHOLE jp!
#WORKHORSEGROUPINC
#TradeSafe
#InvestSmartWAAS
All eyes on EVI am getting the feeling of electricity in the air before the storm in the Electric Vehicle market. I don't want folks to be caught sleeping as price action is starting to give signals. In this video I talk about how the news today on NASDAQ:NKLA created some delayed but interesting price action in NYSE:NIO and NASDAQ:TSLA that anyone trading EV stocks needs to be paying attention.
XPeng Announces Vehicle Delivery Results for October 2020XPeng Announces Vehicle Delivery Results for October 2020:
• XPeng delivered 3,040 vehicles in October 2020, a 229% increase year-over-year
• XPeng delivered 17,117 vehicles year-to-date 2020, a 64% increase year-over-year
• XPeng delivered a total of 3,040 Smart EVs in October 2020, consisting of 2,104 P7s, the Company’s smart sports sedan, and 936 G3s, its smart compact SUV. The Company’s October deliveries represented a 229% increase year-over-year.
• As of October 31, 2020, year-to-date deliveries of the Company’s Smart EVs reached 17,117 units, representing a 64% increase year-over-year.
• Despite China’s Golden Week holiday in early October which affected deliveries, the Company sees strong business momentum supported by fast production ramp up and robust demand for its Smart EVs.
• It achieved a new milestone this month, completing the production of 10,000 P7s on October 20, 2020, just 160 days after starting mass production in late May.
finance.yahoo.com
$TSLA Retracement $Tesla had a good run this week, It hit $600 and got a rejection with the small hammer candle. Looking for support around $500 and then $460. Longer term it is still a buy, the trend is still strong till broken.
Blink - EV charging - midtermwill be interesting if Blink can go back to hights from the beginning though ...
Electric Vehicle Company Canoo 421M Market CapCanoo has announced a merger agreement with Hennessy Capital Acquisition Corp. IV (HCAC), a special purpose acquisition company (SPAC), that would result in Canoo becoming a publicly listed company.
Canoo is a Los Angeles-based company that has developed breakthrough electric vehicles, reinventing the automotive landscape with bold innovations in design, pioneering technologies, and a unique business model that defies traditional ownership to put customers first. Distinguished by its experienced team – numbering over 300 employees from leading technology and automotive companies. (prnewswire.com)
The indicators are looking bullish on every timeframe, the market cap is very low and the company looks promising.
If you are interested to test some amazing BUY and SELL INDICATORS, which give the signal at the beginning of the candle, not at the end of it, just leave me a message.
