ElectricMotorcycleForum.com
Makes And Models => Damon => Topic started by: ultrarnr on July 10, 2024, 02:54:29 AM
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If you have been waiting for the chance to buy stock in Damon your wait may soon be over.
https://www.advrider.com/damon-motors-says-its-still-for-the-stock-market/
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I think I will pass on that offer. Thanks, anyway. ::)
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Nice 8)
I’ve got $100 to invest, as soon as I get my deposit back.
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Maybe they can just repay you in stock options? or send you parts of apollo's bike as a keep sake since he's not using it anymore.
Aaron
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Did Apollo have a Damon? I'm jealous.
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I'll buy some Damon stock. Why not? I have Lightning stock also. I'm betting on the come, or writing it off as a loss.
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Did Apollo have a Damon? I'm jealous.
He purchased a Lightning: https://www.electricmotorcycleforum.com/boards/index.php?topic=12890.0
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He didn't just purchase one - he got one.
Lightning 1, Damon 0.
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After many delays, Damon expects its stock to begin trading on the NASDAQ under the symbol DMN on Monday. They claim to have valued the company at $300 million, or $12/ share. There are lots of moving parts involving loans, success fees, and the like (and of course no motorcycles) so I can't opine on that valuation. There are some potential first-day sellers so we shall see.
https://www.sec.gov/ix?doc=/Archives/edgar/data/0002000640/000121390024098787/ea0221414-8k_damon.htm
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Well, I could short the fuck out of it :)
Cas :)
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I think a high valuation is justified. After all, they’ve figured out how to eliminate the biggest cost center of the business: Making motorcycles.
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I think a high valuation is justified. After all, they’ve figured out how to eliminate the biggest cost center of the business: Making motorcycles.
;D
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Penny stock scam basically. THEY are sitting on a shit ton of the stuff which won't even pass for toilet paper. They get listed, and dump it on some unsuspecting clown.
I think folks are still stinging from the Ideanomics thing that they are not ready to see this one fill the void that one left.
What ever did become of Apollo's sitation?
Aaron
Maybe they'll give him a few 100k of 'free' stock for the time and effort 8)
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The biggest scam in motorcycle history?!
I read through their filing as a reservation holder and my god its even worse than it looks from the outside.
The CEO CFO and CTO are all hoping to line their pockets with a cool $1m each on top of their $500k compensation for running this company into the ground and then putting lipstick on the dead pig for the public markets. For doing jack shit over 7 years.
https://www.sec.gov/Archives/edgar/data/2000640/000121390024099376/ea0221542-424b3_damon.htm
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Damon stock (DMN) opened at $4.00. It's been trading around that, as high as $4.27 and as low as $3.61 as I type this. With 20,767,610 pro forma shares outstanding (including the multi-voting shares but not warrants and options priced above the trading price, that adds up to an equity value of around $83 million.
The company has only $3.5 mm or so of cash, so if they want to make motorcycles they're gonna want some more money.
You can see the company's current investor deck here: https://filecache.investorroom.com/mr5ircnw_damon/173/2024_1115_Damon_Pubco_Deck_Final.pdf
Edited to add: Page 8 of that deck shows that 24% of their preorders are from people who do not own a motorcycle currently, and that 55% of those who do own one are on a commuter bike. Basically, most of their preorders are from people with no business on a 600-lb, 200 hp motorcycle.
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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/
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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. ::)
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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.
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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.
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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.
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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
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DMN is now down to $1.50, down 17.5% today
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DMN is now down to $1.50, down 17.5% today
Going, going, soon to be gone. ::)
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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.
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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?
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Damon published a letter to shareholders about their past and future. There's not a ton new in there except they need more money and won't say how much.
https://www.sec.gov/ix?doc=/Archives/edgar/data/0002000640/000121390024101979/ea0222464-8k_damon.htm
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Well, they are trading back above a dollar now. Jay might get that $million listing bonus after all.
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Damon stock had its worst day ever yesterday as it dropped 71% on volume of over 282 million shares, the most ever traded in a single day. The stock closed at 0.0373. Not much investor confidence in Damon these days. https://stockanalysis.com/stocks/dmn/history/
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Damon stock had its worst day ever yesterday as it dropped 71% on volume of over 282 million shares, the most ever traded in a single day. The stock closed at 0.0373. Not much investor confidence in Damon these days. https://stockanalysis.com/stocks/dmn/history/
I can't imagine why that might be. ::) Has paper dropped in value recently. ;)
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I can't imagine why that might be. ::) Has paper dropped in value recently. ;)
They issued something like 156 million shares, quintupling the share count, and there are 2.8 BILLION cashless-exercise warrants behind those shares. Biggest single-day dilution I've ever seen. And they only raised $16 mm doing it. Penny stock scam.
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That sell off was the few stocks they had themselves, them unloading on fools to get rid of it and get the few pennies they can before the paper becomes worth less than the ink on it.
Aaron
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Wow...trading at 1/10th of a penny right now. and that represents a gain of 9% over yesterday's close.
There's 2.45 billion shares out there ... Billion...with a B!! :o
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ran out of toilet paper, had to trade it in for something where the ink wouldn't smear. nobody likes a dirty butthole.
Aaron
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Damon stock costs $0.0012/share. 2.45B shares outstanding. Market cap $2.94M.
A roll of toilet paper has 400 squares and costs $1.
A square costs $0.0025. 2.45B squares has a market cap of $6.13M.
A share of Damon is worth 0.5 squares toilet paper.
Save 50% on toiletries by using Damon certificates instead.
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maybe they could use that as a marketing ploy, sell 4 ply Damon, with a sample of lightning with it
aaron
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Anyone have an extra 30 million for Damon? https://www.advrider.com/damon-motorcycles-is-still-looking-for-new-money/
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Anyone have an extra 30 million for Damon? https://www.advrider.com/damon-motorcycles-is-still-looking-for-new-money/
Probably not, unless Damon is going to power their motorcycles with AI. ::)
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Well, at least the AI could make a movie for him, to make it look like they have a bike that runs.
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Well, at least the AI could make a movie for him, to make it look like they have a bike that runs.
That would work for Damon. ;)
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them and lightning should get together, between the two, they might scrape up enough to get Apollo his deposit back, ... well their net worth and a trip to the junk yard maybe.