All discussion of Nikola Motors

[Causalien]

Sigh... Still has no idea how anybody can believe him.

But he just upped my accuracy rate by a lot.

 

[Krugerrand]

Yes, and they took out the update about the arrest in the associated article. So who knows.

Patience. Just wait a minute and we’ll have an answer.

 

[bhzmark]

View attachment 590517
not sure how legit...accusers twitter account was created this month, all her posts have been anti Trevor. Claims to be a Mormon and family member. It’s quite damning (she goes into detail and it’s scary) but unproven.

https://twitter.com/aubreyfsmith/status/1308038927878623233?s=20

Here is the link. There are more tweets. I assess it to be possibly a devious short seller market manipulation scheme. But if so it won’t last long. And I probably overestimate the capabilities of short sellers to think of something so complicated.

But her name ought to check out pretty quick or not and Trevor’s team ought to work with Twitter to get it taken down fast if fake account. But if she is legit his cousin, wow he is toast.

If there was any value to nikola it should survive this and perhaps even more likely to prosper under better leadership.

 

[mrdoubleb]

https://twitter.com/aubreyfsmith/status/1308038927878623233?s=20

Here is the link. There are more tweets. I assess it to be possibly a devious short seller market manipulation scheme. But if so it won’t last long. And I probably overestimate the capabilities of short sellers to think of something so complicated.

But her name ought to check out pretty quick or not and Trevor’s team ought to work with Twitter to get it taken down fast if fake account. But if she is legit his cousin, wow he is toast.

If there was any value to nikola it should survive this and perhaps even more likely to prosper under better leadership.

so for what is worth, the old time friend of Trevor who broke the first allegations about the 18 year old model tweeted that he has talked to her and confirmed this woman is indeed Trevor's cousin. She was not on Twitter before she explains she created this account as she did not want to be silent about this in light of what he did to other women. If true, this is horrendous.

@davidbateman
I spoke with this woman on the phone last night. I checked and verified she’s Milton’s cousin. Her story seems entirely credible to me.
https://twitter.com/davidbateman/status/1308041361929633792

 

[SageBrush]

It’s insane to me that Nikola is basically the company that short sellers claimed Tesla has been all these years. A house of card held up by a crooked CEO cooking the books. Yet they shower support on Nikola even after being exposed! They were so sure on Tesla but couldn’t see the train wreck at Nikola coming.

Exactly

This really is a lesson to make a college course of.

As for me --- I'm sad. I had decided to short NKLA at around $90 but by the time I rounded up the cash NKLA had fallen. My earlier short gambles had ended poorly so I was tentative and refused to borrow money for the short.

 

[Cosmacelf]

Guys like Trevor keep doing horrible things because they get away with it ... until they don't.

 

[Boomer19]

jeezus this spiraled our of control quickly
since that gm deal was announced

what a mess

 

[Doggydogworld]

Crazy news. Who could have ever predicted such a thing?

The SPAC guys will push Trevor out soon enough. That was their plan from the start.

Oh yeah, I did. Trevor never fooled any of those folk, believe me.

Curious what the fallout for GM or Mary Barra will be considering she vouched for him like... Friday.

GM/Barra did not say one thing about Trevor. Of course they want the NKLA deal to move ahead.

The deal is not yet "closed", they signed the agreement but closing is yet to come, so GM can still walk away in light of major changes in the situation that occurred since the signing.

Walk away? You really think GM didn't know about Trevor? They knew he was a problem, of course. Now he's not. Funny how that worked out....

This latest move of him dropping out and no longer being an insider means, that on December 3rd he could sell all his shares without extra paperwork...

He's still a 20% holder, so he still has to file.

The only thing I wonder about is whether Girsky was behind the Hindenburg revelations.

 

[Prunesquallor]

Sigh... Still has no idea how anybody can believe him.

But he just upped my accuracy rate by a lot.

Yes. My BS Detector had a good calibration run and is performing well.

 

[smorgasbord]

This tweet, https://twitter.com/WholeMarsBlog/status/1307997275315007488 , says it all:

 

[Driver Dave]

Helpful translation when discussing current situation.

 

[smorgasbord]

This Seeking Alpha article: Nikola - Company In Deep Trouble After Founder And Executive Chairman Steps Down

points out that Nikola has to raise as much as $3.7 Billion in the next couple years:

The original forecast was for the company to raise an additional $700 million of equity financing between late 2021 and early 2022, an aggregate $500 million of unsecured notes in 2023 and 2024, manufacturing equipment financing of $85 million next year, an aggregate $980 million in hydrogen station equipment financing from 2022 to 2024 and an aggregate $660 million in lease securitizations of fuel cell trucks in 2023 and 2024.

Adding up to $700 million required under the General Motors agreement, Nikola would have to raise up to $3.7 billion in new capital over the next couple of years, and given recent events, I seriously doubt the company's ability to tap the corporate debt markets or secure large amounts of manufacturing or hydrogen station equipment financing.

The author does admit That said, with close to $700 million in cash and very little debt at the end of Q2, Nikola is unlikely to file for bankruptcy anytime soon, but the company will either have to alter its business plan or raise a substantial amount of cash by the end of the next year.

The obvious question remains how Nikola raises that kind of money without Milton hype.

 

[UnknownSoldier]

I'm up 44% on these NKLA puts but I'm feeling the vibe right now. I'm gonna ride this trash down to zero. Elon told me not to doubt my vibe!

 

[Prunesquallor]

...
The obvious question remains how Nikola raises that kind of money without Milton hype.

See above: #730

 

[dl003]

This Seeking Alpha article: Nikola - Company In Deep Trouble After Founder And Executive Chairman Steps Down

points out that Nikola has to raise as much as $3.7 Billion in the next couple years:



The author does admit That said, with close to $700 million in cash and very little debt at the end of Q2, Nikola is unlikely to file for bankruptcy anytime soon, but the company will either have to alter its business plan or raise a substantial amount of cash by the end of the next year.

The obvious question remains how Nikola raises that kind of money without Milton hype.

Give him a TikTok account dude can accomplish anything!

 

[Cosmacelf]

I'm up 44% on these NKLA puts but I'm feeling the vibe right now. I'm gonna ride this trash down to zero. Elon told me not to doubt my vibe!

You might want to take your money and run depending on how long those put options are dated. I agree with @Doggydogworld above that GM is really running the show (I mean, the SPAC that funded Nikola is effectively run by GM!) and they are doing it for a variety of reasons, not the least to be able to use the $7500 fed credit and to bypass their dealers. GM has a lot of options going forward including buying NKLA on the cheap at the right time for them. GM's engineers aren't idiots - they know Nikola has zero useful intellectual property. This is a just a fancy corporate structuring deal for GM.

Latest statement from GM. This sounds like it was written by a company that is methodically putting pieces together...

“We acknowledge Trevor Milton’s departure from Nikola and the decision of the Nikola Board to move forward. We will work with Nikola to close the transaction we announced nearly two weeks ago to seize the growth opportunities in broader markets with our Hydrotec fuel cell and Ultium battery systems, and to engineer and build the Nikola Badger. Nikola, Honda and other companies who are looking to GM’s technology as a platform for their products, represent just one part of our overall EV strategy. Our overall goal is to put everyone in an EV and accelerate adoption,” a GM spokesperson said in a statement to Yahoo Finance.

 

[dl003]

NKLA - 53.39M Share Common Stock Offering.
Unconfirmed from StockElement.co
If true, you can't make this stuff up. Just casually diluting by 14% while your ex-chairman is under investigation. No problem at all.

 

[Cosmacelf]

BTW, the next thing GM will likely do is to renegotiate the deal to taking into the account the 20% or so stock price drop. Instead of getting 11% of NKLA, GM may get more like 15%.

 

[bkp_duke]

You might want to take your money and run depending on how long those put options are dated. I agree with @Doggydogworld above that GM is really running the show (I mean, the SPAC that funded Nikola is effectively run by GM!) and they are doing it for a variety of reasons, not the least to be able to use the $7500 fed credit and to bypass their dealers. GM has a lot of options going forward including buying NKLA on the cheap at the right time for them. GM's engineers aren't idiots - they know Nikola has zero useful intellectual property. This is a just a fancy corporate structuring deal for GM.

Latest statement from GM. This sounds like it was written by a company that is methodically putting pieces together...

“We acknowledge Trevor Milton’s departure from Nikola and the decision of the Nikola Board to move forward. We will work with Nikola to close the transaction we announced nearly two weeks ago to seize the growth opportunities in broader markets with our Hydrotec fuel cell and Ultium battery systems, and to engineer and build the Nikola Badger. Nikola, Honda and other companies who are looking to GM’s technology as a platform for their products, represent just one part of our overall EV strategy. Our overall goal is to put everyone in an EV and accelerate adoption,” a GM spokesperson said in a statement to Yahoo Finance.

What pisses me off is that in the end, Milton is still probably going to walk away from all of this with gobs of money.

That just doesn't site right with me . . . at all.

 

[Cosmacelf]

What pisses me off is that in the end, Milton is still probably going to walk away from all of this with gobs of money.

That just doesn't site right with me . . . at all.

Maybe. Prison is still a possibility. The wheels of justice move slow for fraud. They are usually complex cases to gather evidence for...