All discussion of Nikola Motors

[Artful Dodger]

This won't travel well into tomorrow.

Anyone who still likes NKLA, cause you know, BEVs, get your powder ready for the 20s and teens.

If you still like it that is.

Market Summary > Nikola Corporation
NASDAQ: NKLA
Sep. 21, 4:26 a.m. EDT
Pre-market 26.40 −7.79 (22.78%)

 

[MABMAB]

Best I've seen, Trevor Milton said he was promoted to non executive non chairman

 

[Artful Dodger]

Lycanthrope said: ↑

"I honestly don't understand why $NKLA is still trading"​

Succinct.

Sux. Sinks.

 

[MABMAB]

GM is my primary interest in the matter. Her reputation is at stake. If this is true and Nikola crumbles into dust, my wild guess is she doesn't lose her job but the ice underneath her could get very thin.

Mo City said ICE

 

[-=buzz=-]

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

GM is my primary interest in the matter. Her reputation is at stake. If this is true and Nikola crumbles into dust, my wild guess is she doesn't lose her job but the ice underneath her could get very thin.

The only thing GM vouched/did due dilligence for, was that Nikola was able to pay for the contract they entered with GM. Which is 11% of Nikola (pure profit) plus 700m$ in cost plus orders.
Everyone claiming that GM invested in Nikola didn't read the announcement...

 

[mrdoubleb]

I have not read much about the details of GM's 11% stake - apologies if this has been discussed here already. So have they already executed that, or was that contingent on some more board approvals by both companies?

Not sure what to think of it. If the purchase already went through than there is a huge risk of a collapse of NKLA share price if the allegations are true and the SEC an DOJ are indeed investigating and taking action. Just because Milton resigned this does not magically go away.

At the same time if the purchase only executes in the next few days, they could be getting those for far less than 2Bn.

Another question is if Nikola truly has any IP worth 2Bn. If all it was was the cool Tesla-esque image and poor man's Elon Musk as a charismatic leader than that is all but gone.

 

[Oil4AsphaultOnly]

Just finished reading the article about Trevor resigning. Does this clear him personally from the SEC investigation? Would this protect his $30M home? Because even if it's not billions, it's still way more money than most people will ever see in their lives.

Edit: Considering that it was paid for through ill-gotten means, that would suck since it would be a form of legalized theft!

 

[Mike Smith]

Just finished reading the article about Trevor resigning. Does this clear him personally from the SEC investigation? Would this protect his $30M home? Because even if it's not billions, it's still way more money than most people will ever see in their lives.

Edit: Considering that it was paid for through ill-gotten means, that would suck since it would be a form of legalized theft!

He's definitely going to prison. Securities fraud is a big deal. Even Marth Stewart got 8 months and this is 1000X worse. I predict he gets 20 years. Then there's the shareholder lawsuits.. he'll probably lose everything.

 

[Prunesquallor]

The biggest bummer is that now we don't get to see Cathie Wood tear Trevor apart on video.

What will TeslaCharts say now?

View attachment 590441

https://twitter.com/TESLAcharts/status/1284692373625348097

Yep. Another quality pick by $TSLAQ.

 

[Stretch2727]

I have not read much about the details of GM's 11% stake - apologies if this has been discussed here already. So have they already executed that, or was that contingent on some more board approvals by both companies?

GM has not executed as they could not sell for a few years.

For those that say GM has lost nothing, I disagree. Financially they will not loose with this deal, but what they have lost is reputation by chasing a dead end deal with a partner that will bring no value to them. Your reputation is worth more than dollars and cents.

My prediction is Mary Barra is next to go.

 

[mrdoubleb]

GM has not executed as they could not sell for a few years.

For those that say GM has lost nothing, I disagree. Financially they will not loose with this deal, but what they have lost is reputation by chasing a dead end deal with a partner that will bring no value to them. Your reputation is worth more than dollars and cents.

My prediction is Mary Barra is next to go.

Don't disagree with your comment on Barra, but maybe my choice of the word "executed" was misleading.

So my question is does GM already own 11% of Nikola or has that deal not gone through yet? In other words, is Barra on the hook for buying something for 2Bn last week that may only be worth half of that (or even less) very soon?

 

[Stretch2727]

Don't disagree with your comment on Barra, but maybe my choice of the word "executed" was misleading.

So my question is does GM already own 11% of Nikola or has that deal not gone through yet? In other words, is Barra on the hook for buying something for 2Bn last week that may only be worth half of that (or even less) very soon?

It's not sarcasm. The reported deal is Nikola gives GM stock equivalent to 11% of the company; GM bills Nikola on a cost plus basis but payment for the first $2 billion of bills is waived; GM gets a seat on Nikola's board.

They were given $2B worth of NKLA stock to do the deal. They did not have to buy it but cannot sell for a few years.

I understand Nikola does not have to pay for the first $2B in costs related to tooling and R & D of the pickup truck. Now with the stock tanking lets see how that plays out.

 

[mrdoubleb]

They were given $2B worth of NKLA stock to do the deal. They did not have to buy it but cannot sell for a few years.

I understand Nikola does not have to pay for the first $2B in costs related to tooling and R & D of the pickup truck. Now with the stock tanking lets see how that plays out.

Thank you, that clears it up!

 

[MABMAB]

Time for Trevor to reorganize as a new company

 

[FrankSG]

Best I've seen, Trevor Milton said he was promoted to non executive non chairman

He seriously said this? Where?

 

[OrthoSurg]

This is an interesting video showing you how much of a douchebag Trevor Milton is.

Summary: A 30 year friend of Trevor’s gets hold of awful slimy text messages Trevor sent to a woman. Trevor alleges his friend is trying to extort him based on those texts and calls the cops on him. His friend gets arrested for this alleged extortion and once out on bail, commits suicide (his friend had mental issues known to all). A friend of the now deceased guy finds out about what happened and is now exposing it all.

And Milton was saying: « Some people are extremely selfish. »

 

[traxila]

If GM sticks with them is this a buying opp? Or maybe when it is around 20? Or 15? Or....

Maybe I just watch.

 

[SebastianR]

So my question is does GM already own 11% of Nikola or has that deal not gone through yet? In other words, is Barra on the hook for buying something for 2Bn last week that may only be worth half of that (or even less) very soon?

In this video (jump to the 3 minutes mark):

The talk is that GM has a "get out of jail free" card until 30-Sept-2020. The GM deal is dead. Even if the new chairman of the board is the guy who brokered the deal in the first place.

 

[MABMAB]

He seriously said this? Where?

No, Gary black humor reposted

 

[MABMAB]

I hear allenwood already making a bunk