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Shocking… I told you so.
- Thread starter Go Time Racing LLC
- Start date
LillyMayPatterson #1685 & #5648
Elio Addict
Well, The history repeats. Friday (end of the month and the quarter), SEC tossed Elio Stock back into the Expert Market because Elio did not get their Filings in on time again. Charles Schwab CANCELLED my Limited Buy bid the moment it happened. Sure enough, I was undercut yesterday (Tuesday) and somehow, someway somebody bought a few stocks lower than my limited buy bid that was cancelled. I am miserably pissed. This was my second chance to get my investment back and Charles Schwab screwed me out of it and in a heartbeat this time. What broker is still dealing with this? I am so disappointed.
I've never bought any stock so I really don't understand the in and outs of what happened .... do hate that whatever did worked against you
Made in USA
Elio Addict
In essence you tell your broker to buy x number of shares and you are willing to pay x amount per share. They then make an offer for you to a seller. If they agree you just bought some stocks. However, if a company is not in good standing (like Elio Motors), they may not agree to make any kind of deal as a way to protect the buyers. There are some brokers that won't even deal with some companies in good standing because they feel it is too risky.
Sorry that happened.
I was miserably pissed at Paul Elio. Elio stock was risky from the beginning, as is any new startup companies. I invested in $FUV during Arcimoto’s 2018 IPO roll out @ $6.50. Today’s it’s at $1.28. The company announced cutbacks due to a funding shortage. I think Arcimoto, even though they crossed the production finish line and are delivering vehicles, is in the shitter too. I knew it was high risk but wanted to support the company, as you did with Elio. Hoping both bounce back. Their Flatbed Model would have been FUNctional on your farm. 
You are a wise man indeed!
RSchneider
Elio Addict
Arcimoto needs to stop bleeding cash and stop with all of the new models. Concentrate on the core brand. The company is going to run into a problem because the sales are in the toilet. Plus the production is at 632 for the life of the product. Even if they could ramp up production, the sales are not there and they will get to the point where they have too much product. Mark should have opened up sales immediately to all 50 states and now he;s seeing where it's killing them when it comes to new sales. I hope he turns it around because right now, all of the glossy PR stuff is not working.
You know something about Arcimoto’s sales I don’t? Demand is there. They can only build 6 units per day! Tooling the new manufacturing plant and the parts supply chain for production scale is the issue. Definitely not the best health, political, and economic environment over the past three years for a new startup company. Tough when all is optimal. Open the sales area to all 50 states out the gate? Makes little sense until production numbers and the servicing network are in place to allow it. Nothing glossy about Arcimoto in my opinion, only actual progress updates/marketing/strategy. Hoping their restructuring strategy is successful or another startup bites the dust.
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LillyMayPatterson #1685 & #5648
Elio Addict
I am not mad at Paul Elio. If and when he crawls out with the SEC filings in hand and the paperwork is accepted, I will once again pickup my pompoms and jump on the field for him. This trip he took us on has been one of my longest lasting relationships in my life and one of the most fulfilling. I met some wonderful people, bla bla bla you all know very well, it has been fun. I am angry at Charles Schwab, the guy who is holding my purse! Elio Motors has been saying all along that they are working to get financing. I believe them.
Excerpts from Arcimoto’s 2022 Fall update I received moments ago, so either of us don’t have to make assumptions about what’s going on. Record Q3 for production #’s and deliveries. Restructuring is required of any new startup as the company evolves. For this investor, it‘s a positive, non-glossy, informational update.