EMBK - Autonomous Trucking Company Running on Zero

Embark Technologies (EMBK) looks like an autonomous trucking companies that someone entered into a science fair competition. Some details here and here from Reddit. Basically they are a zero revenue, zero patent, zero experience de-SPAC that is in a crowded space with much better competitors like TuSimple (TSP).

Two key events happening in the next few days:

  • On Monday, May 9, 400M shares get unlocked
  • On Tuesday, May 10, earnings

As a result, IV is ~200%, making puts very expensive. It is also possible that they will say nice things and make the price moon a bit, like they did during the previous earnings.

Either way, will be looking at initiating a short position sometime later next week. Expecting price to go below $1 soon enough.

#embk #tsp


EMBK went down by 60% on share unlock, then went up by 36% on earnings.

IV is still ~300%, so will just watch for now. But probably not enough meat on the bones left to do much with this. Too bad didn’t see this sooner.


Closing this thread. This one’s dead, Jim.