Short

$FREY - more money down the drain, headed for the graveyard

Updated

is a company set up to enrich the owners and key players. They have tapped into subsidies in several countries, and the owners have made millions. They have delivered nothing, and plan after plan has been cancelled. After getting tons of money and praise in Norway, they shut down and moved to the US. Because the US government provided a better environment. Still delivering nothing, they now got awarded €122 million from the EU. Watch this money go down the drain, or into owners pockets. No point in doing any technical analysis, this company is heading in one direction only. Be aware of short termed price jumps based on nonsense, it is all part of the process of bankruptcy. As always, do your own due diligence. If this company is alive in its current form in 1 year, I will never post anything in here again.

Trade active

FREY is up 140% last 5 days, with price shooting up after the company released earnings this week (18% miss on EPS, and basically 100% miss on revenue). They also released news they are buying the US manufacturing assets of Trina Solar. The effect of this remains to be seen. I believe this spike in price provides a far better entry for a short, but do your own DD.

Trade closed manually

The company has had a good run, and has rendered this idea closed unsucessfully. However, the financial situation is still in question, to get any serious funds outside of subsidies, there has to be a massive dillution of existing share holders. This could be a golden opportunity for a short, but I will bite my tongue to see how it develops.

WeRideAtDawn

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