Nah, they are investigating WallStreetBets for collusion regarding the GME short-burn.
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All discussion of Nikola Motors
- Thread starter Buckminster
- Start date
Nah, they are investigating WallStreetBets for collusion regarding the GME short-burn.
JRP3
Hyperactive Member
The article contains this line:
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
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Not only that, but wasn't the GM deal simply cancelled, not "revised"?
JohnSnowNW
Active Member
Depends on if you work for, or invested in, Nikola or not.
pz1975
Active Member
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.
JRP3
Hyperactive Member
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.
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.
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
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.
JohnSnowNW
Active Member
The electric truck start-up said six months ago that the battery-powered Nikola Tre, with a 300-mile range designed for regional routes, would be “as light as comparable diesels”, allowing truck operators “to transport more goods on each load”.[...]But the Tre’s tractor — the machine towing the trailer carrying freight — weighs 29,800 pounds, according to magnified footage from a recent Nikola promotional video. The tractor for a diesel truck weighs about 17,000 pounds.
Link may be behind a paywall, but that's really all you need to glean from the article.
Link may be behind a paywall, but that's really all you need to glean from the article.
And that's what happens when you don't do any in-house engineering and just buy off the shelf. I swear some people look at Tesla and say to themselves, "Wow, look at their success, must be easy!".
As of 3-3-21 the Badger is still on Nikola's web site.
JohnSnowNW
Active Member
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 purposesSeriously, 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%.
RobStark
Well-Known Member
Nikola strategic partner Hanwha to sell 50% of EV stake
The sale comes as the electric-truck startup attempts to recover from a blow to its credibility triggered by a short-seller report last year and after another key investor and partner, Robert Bosch, slashed its stake in the company three months ago.
www.autonews.com
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