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All discussion of Nikola Motors

ZsoZso

Supporting Member
Apr 24, 2014
1,676
9,661
Brampton, Ontario

The article contains this line:
Ultimately, the entire report led to the revision of a deal with GM and the sacking of Trevor Milton, the company’s front man.

Hmmm, my apparently fading recollection is that at the time this was conveyed as if he resigned... Is my memory failing me ?

ps: OK, it is not my senility, found 2 articles from Sept,2020 both claiming he resigned:
https://www.cnbc.com/2020/09/21/nikola-founder-trevor-milton-to-voluntarily-step-down-as-executive-chairman.html?__source=iosappshare|com.apple.UIKit.activity.CopyToPasteboard

Breaking News: Trevor Milton out at Nikola Motor - FreightWaves
 
Last edited:
  • Informative
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Cosmacelf

Well-Known Member
Mar 6, 2013
8,264
19,529
San Diego
The fact that Nikola, which has proven to be pretty much 100% a fraud and lies, is not bankrupt yet is one of my main concerns regarding the general stock market.

It cannot go bankrupt until it runs out of cash. I won’t worry unless they can raise more cash at non fire sale prices.

Now we can all see where NKLA is heading, but then we all saw where TSLA was heading long before everyone else did, so ... there are just a lot of not too smart investors out there on both the long and short side.
 

Mengy

Member
Feb 18, 2020
155
942
PA
There is a tiny chance Nikola eeeks out a business of some kind from all this mess. They do have two prototype semis now (which actually drive this time!) and they are building a factory. I doubt they will be successful without some kind of huge partnership, but if they can wrangle something like that they might still be some kind of contributor to the EV market down the road.

I wouldn't invest into NKLA with someone else's money though, let along my own. I'd never trust them going forward and I have extremely little confidence in them long term.
 

JohnSnowNW

Active Member
Feb 13, 2015
2,623
2,739
Minnesota
Nikola still has a market cap of $7B.

Who are the morons holding this stock?

Based on my experience with comments in Nikola articles and youtube videos they're retail investors that think NKLA is the next TSLA, and use past TSLA naysayers as evidence.

In other words, they're naive investors that are treating the bad press as noise, preferring blind faith to reason.
 
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Reactions: Cosmacelf

H Mak

Member
Mar 16, 2020
372
5,266
Liverpool

Nikola stock falls after company files for share offering

Nikola Corp. has filed to sell $100 million worth of shares, and the stock fell more than 3% in the extended session Monday after ending the regular trading day up 0.2%. Proceeds will be used for general corporate purposes

Seriously, who would?
 
  • Funny
Reactions: MP3Mike

Cosmacelf

Well-Known Member
Mar 6, 2013
8,264
19,529
San Diego

Nikola stock falls after company files for share offering

Nikola Corp. has filed to sell $100 million worth of shares, and the stock fell more than 3% in the extended session Monday after ending the regular trading day up 0.2%. Proceeds will be used for general corporate purposes

Seriously, who would?

Normally, you'd do a secondary share offering after a string of successful milestones. Let's see what we've got: Admission of fraud, CEO/Chairman resignation, biggest partnership evaporating (GM), major product torpedoed (Badger), failure to ink any hydrogen production partnerships. Did I miss any? Frankly the miracle is that the stock price is only down 4%.
 

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