LMP Automotive Holdings, Inc. Announces Entry Into a Definitive Agreement for the Acquisition …

  • Upon closing and combined with our currently contracted acquisitions, LMP’s revenues are expected to exceed $2.2B on an annualized basis in 2021, with approximately $70M in pre-tax income and expected net income of $4.59 per share, which would likely make LMP a newcomer to the Fortune 1000 list of companies with over 1,600 employees;
  • Real estate leased with an option to purchase;
  • Expands its world class management team;
  • Unique New York dominant platform with accelerating organic year-over-year annualized income growth of over 20%;
  • Significant increase in online-originated orders with efficient touchless delivery and lower SG&A costs associated with the online and fulfillment elements due to Atlantic’s concentrated, clustered presence in New York along with its logistics network;
  • Atlantic Central Storage has storage capacity of approximately 7,000 vehicles in New York and operates a fleet of 15 multivehicle car transporters with capacity to efficiently transport approximately 5,800 vehicles a month on
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Why Electric Car Stock DiamondPeak Holdings Skyrocketed More Than 50% in September

What happened

Shares of DiamondPeak Holdings (NASDAQ:DPHC) soared by 53.5% in September, according to data provided by S&P Global Market Intelligence.

The special purpose acquisition corporation (SPAC) is slated to take electric truckmaker Lordstown Motors public before the end of the year. Extreme interest in it and other electric vehicle companies sent DiamondPeak’s shares on a roller-coaster ride throughout the month. 

A rocket blasts off above the clouds.

Image source: Getty Images.

So what

A number of electric vehicle companies have recently been choosing to forgo the traditional IPO process and instead go public through reverse mergers with SPACs like DiamondPeak — among them, Nikola (NASDAQ:NKLA), which, like Lordstown Motors, plans to manufacture an electric pickup truck, the Badger. Lordstown announced in early August that it had entered into a definitive agreement to go public through a merger with DiamondPeak. Shares promptly took off, rising 63.9% that month alone. 

That buying frenzy continued in September, particularly

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