Lotus shares are down 90% from IPO

[Nick in Sydney]

I'd love to be a fly on the wall in the Geely or L Catterton board room! Lotus Technology shares closed yesterday at a new 52-week low of $1.48. Over the past year, the share price is down -82%.

On the day of the Nasdaq SPAC, the shares closed at $13.80, so Lotus has lost about 90% of its $9.3B market cap since listing.

Brutal.

 

[Six Speed Stephen]

Big yikes

 

[chirowolf]

Last 3 weeks have been brutal for the whole market

 

[Emira Fan]

Yes, not going in a good direction. Hopefully they are producing a lot of spare proprietary parts in case they go under I'm planning to keep this car for a while.

 

[MTV]

I think we should plan an Emira Forum group buyout

 

[cyanmauve]

Lotus won’t go under. You think this is the worst it’s ever been for this company? Not by a long shot.

 

[Ryder]

The Chinese economy is slowlng drastically. Very unlikely those expensive electric SUV's can resurrect the Lotus brand. Only time will tell.

 

[HydroJim]

The bright side is it can only go up from here...

 

[Rupes]

SPACs are generally a bad investment and only benefit a few at the top. Lotus had no right to be a publicly traded company.

 

[MTV]

I wonder how Volve is going being another brand who said they are now all electric. Sales here are close to nil for those cars.

 

[cyanmauve]

I think the time is ripe for a Saudi prince with a passion for the brand’s heritage to purchase it outright for pennies on the dollar and re-re-re-introduce Lotus to the world!

Or maybe, in an odd twist of fate, Mazda buys Lotus, as both companies share a passion for driving enthusiasm but from very different perspectives.

Lotus helps Mazda develop a new RX-7, and Mazda supplies Lotus with multiple proven Skyactiv ICE options.