All discussion of Nikola Motors

[Oil4AsphaultOnly]

I disagree. I think there is little doubt.

Weeelll ... technically what they wrote was both more accurate and WORSE than what you wrote.

TL;DR their 10-K. Did they admit to selling their trucks at a loss? Last I checked, without even amortizing factory/toolings costs, their COGS were already higher than what they were selling the trucks for!

 

[MrMoo]

Remember our old friend Nikola...

'Substantial doubt' | Hydrogen truck maker Nikola on brink of collapse after racking up $2bn of losses

US company warns it may have to ‘terminate our operations’ in next 12 months after admitting ‘continuing losses for the foreseeable future’

www.hydrogeninsight.com

Can we get a link to this news on a more reputable news website? This is the only site that is posting it. Sounds like FUD?

 

[ggr]

Can we get a link to this news on a more reputable news website? This is the only site that is posting it. Sounds like FUD?

It's only sort-of-fud. From the Nikola 10K:

Our ability to continue as a going concern is dependent on our ability to obtain the necessary financing to meet our obligations and repay our liabilities arising from the ordinary course of business operations when they become due. The outcome of these matters cannot be predicted with any certainty at this time. If we are unable to raise sufficient capital when needed, our business, financial condition and results of operations will be materially and adversely affected, and we will need to significantly modify or terminate our operations and our planned business activities.

This is pretty standard boilerplate disclaimer. Unless they something like "we can't figure out how to raise more capital" it means not much.

 

[heltok]

"We are an early stage company with a history of losses, expect to incur significant expenses and continuing losses for the foreseeable future, and there is substantial doubt that we will have sufficient funds to satisfy our obligations through the next 12 months from the date of this report."

Inline XBRL Viewer

I don't like hydrogen or nikola, but this is just noise and we should be better than this. Every early stage company says this...

 

[HVM]

Nikola stock is now cheep time to stock-up and put it in the freez...

Nikola Announces $100.0 Million Public Offering of Common Stock

/PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA) today announced that it has commenced an SEC-registered underwritten public offering of up to $100.0 million...

www.prnewswire.com

 

[HVM]

Oops that was not good advise, but I bet it will soon rise like a hydrogen blimp:

 

[Oil4AsphaultOnly]

Oops that was not good advise, but I bet it will soon rise like a hydrogen blimp:
View attachment 923183

Until they can actually sell a product for more than it costs them to make (they sell the Tre for LESS than what they pay for the parts!), the company will never be viable.

 

[HVM]

And being a know scam will not help either.

 

[HVM]

 

[CyberGus]

 

[Fred42]

View attachment 927974

Maybe Nikola, Lucid, Lordstown Motors and Canoo should combine under a new banner. Let me think. American Motors Corporation?

If they can't get the rights to the name, then North American Motors.

 

[Yelobird]

Maybe Nikola, Lucid, Lordstown Motors and Canoo should combine under a new banner. Let me think. American Motors Corporation?

If they can't get the rights to the name, then North American Motors.

Or name it Hindenburg or Titanic.

 

[AudubonB]

My very strong conjecture is that any strong days for NKLA, like this morning with a 9.8% rise, are close to fully a product of short covering as shorters are just as happy with 99.3% gains as with 99.45% ones. The alternative of awaiting Full Terminal can mean, for example, not being able until whenever that occurs to offset realized gains against losses, of which in the current market I’m sure most have many.

 

[HVM]

Ok, this is the end of that silly business. (Take odd long time for Iveco)

Nikola pauses production and ends relationship with Iveco

Nikola has announced that it will be pausing production of its zero-emission heavy duty trucks for several weeks. The pause will be used to adjust the company’s vehicle mix and to alter its relationship with […]

driveteslacanada.ca

 

[CyberGus]

Ok, this is the end of that silly business. (Take odd long time for Iveco)

Nikola pauses production and ends relationship with Iveco

Nikola has announced that it will be pausing production of its zero-emission heavy duty trucks for several weeks. The pause will be used to adjust the company’s vehicle mix and to alter its relationship with […]

driveteslacanada.ca

 

[Knightshade]

Is the 30 days under $1 to start the delisting process a closing-of-the-day price, or does going over $1 intraday reset it? Because if it's the former it looks like they're hitting 30 days below $1 close like... tomorrow?

 

[Electroman]

I know Fraud Milton lost the case, but did it ever to get to the stage where he actually paid up all damages?

Even if he did, how much would he have still pocketed out of this scam? Will he go to jail?

 

[Knightshade]

He's currently free on a 100 million dollar bond... sentencing was delayed till June 21 pending his appeal and request for a new trial because one of the jurors disliked rich people

Nikola founder’s sentencing on fraud convictions delayed until June 21

The government opposed a new trial for Nikola Corp. founder Trevor Milton, dismissing his allegations of juror misconduct.

www.freightwaves.com

 

[HVM]

It's spring time in Utah. Trevor is free man $1.4B (-0.1) in pocket. All is good.

 

[HVM]

Electric truck maker Nikola receives delisting notice

Nikola Corp said on Thursday Nasdaq gave the electric truck maker a delisting notice for not meeting its minimum bid price requirements.

www.reuters.com

May 25 (Reuters) - Nikola Corp (NKLA.O) said on Thursday Nasdaq gave the electric truck maker a delisting notice for not meeting its minimum bid price requirements.

Shares of the company were down 5% at 73 cents. They fell about 78% last year on high battery material costs and production concerns.