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[JaimeC]

Saw this article this morning at Electrek:
https://electrek.co/2024/11/18/damon-insists-its-always-next-year-200-mph-electric-motorcycle-isnt-vaporware/

[Richard230]

I hope Damon isn't looking for a bailout from President Trump. They will be waiting for as long as their pre-order, fully-refundable deposit, customers are for their bikes to arrive. 

[Motoproponent]

Well, I could short the fuck out of it

Cas

You better hurry. It lost 40% on trading day one. Now it's down another 25%.


At least the top executives have a vested interest in propping the stock price up. They get a $1,000,000 bonus if the stock stays listed for at least 375 days.

The $300 Million valuation was at $12 per share. Now it's down to ~$1.75. I think Graffiti share holders saw the writing on the wall and bailed at moment one.

Kinda shitty how bad stock market happenings can put an electric motorcycle maker in the dustbin.

[peanutgallery]

Oh right ‘bad happenings’. Are these bad happenings in the room with us right now?
Without it, they’d be whipping out $40k marvels of engineering in 2021.

The problem obviously is not with Damon; it’s the truth finding mechanism of the market. 

[flynnstig82r]

Indeed. When Damon goes in the dustbin, it will be because they hyped a non-existent product for years, not because of the stock market. The market is correctly lowering the price of a highly speculative stock. I have a lot of criticisms of securities markets, but they’re actually working as intended here, IMO.

[Grauteufel]

I have a lot of criticisms of securities markets, but they’re actually working as intended here, IMO.

Hear hear.

In this case it is the market deciding that Damon doesn't actually have a product with any potential returns, with its directors conspicuous consumption indicating the motive for funding

[ultrarnr]

DMN is now down to $1.50, down 17.5% today

[Richard230]

DMN is now down to $1.50, down 17.5% today

Going, going, soon to be gone. 

[ultrarnr]

So yesterday was another down day for DMN as it fell to $1.31. Down 12%. But the way it is listed on https://www.barchart.com/stocks/quotes/DMN
shows it as Grafiti Holding Inc (DMN). Other interesting details under fundamentals include the claim of annual sales of 337K and annual income of -21,770K.

[peanutgallery]

Not sure where but someone had more than cursory information about Jay’s history on this forum a while ago

What do we know about this guy? His companies do terribly despite the hype and there’s some very shady stuff I’ve read in the past on here.

Anyone?