Nikola...so who do you believe?

[kadee79]

I was interested in a stock purchase if it came back down after the big bump...but now, not sure...who is correct?  Who has proof?


www.marketwatch.com/story/short-seller-hindenburg-alleges-that-electric-truck-maker-nikola-is-an-intricate-fraud-in-new-report-2020-09-10

[haapai]

I believe that there are other things that you can invest in.  I also believe that folding your money in half is an underappreciated strategy.

I'd make several months of mortgage payments in advance before investing in this company - long or short. 

[kadee79]

Sept 10, 2020 14:58:27 GMT -5 haapai said:

I believe that there are other things that you can invest in.  I also believe that folding your money in half is an underappreciated strategy.

I'd make several months of mortgage payments in advance before investing in this company - long or short. 

We have no mortgage.  It was paid off long ago...and we built our house ourselves...pay-as-you-go.  
My investments are more of something to keep me occupied at least part of the time...none are big...I've made money & I've lost money...but my average is good...I've made more than I've lost over the years.

[ModE98]

They signed a contract with GM.  Would GM do a contract with a fraud?  Don't think so.  The article claiming the fraud is by a short specialist, who would benefit from a selloff.  Nicola will probably be OK (IMO).

[kadee79]

Thanks Mod.  That was pretty much my thinking too...UNLESS...someone at GM didn't do their homework.

[ModE98]

Key question........."UNLESS...someone at GM didn't do their homework."

[mroped]

Nikola has been keeping this on low profile for a few years now. They’ve worked on their new truck till they made sure that it can compete and hold on the market against traditional vehicles. Tesla people are miffed because they’ve been outdone so wouldn’t be a stretch by Elon Musk to throw some monkey wrenches in there.

[kadee79]

And there is this, this morning/today...

Nikola Motors and its founder, Trevor Milton, are scrambling to save face after a research report exposed years of deception. This follows their new deal with GM, who doesn’t seem very concerned about their new partners’ past deception.



If you have been following our coverage of Nikola Motors, you know that we have been highly skeptical of the company for some time

From the patent trolling lawsuit against Tesla to dubious claims of battery breakthroughs, the company had very little to no credibility to us.

In 2017, Trevor Milton invited me to test out their electric UTV, and I was impressed by the prototype, though the powertrain was mostly built by Bosch.

However, my view of the company started to deteriorate after that event as Milton decided to hit Tesla with a $2 billion lawsuit over dubious allegations that they copied the Nikola One truck design for Tesla Semi.

After reading the entire lawsuit, I called Milton and told him that I thought the whole thing amounted to patent trolling, and that I can’t take Nikola seriously if they start engaging in patent trolling activities.

Things started going downhill from there.

electrek.co/2020/09/11/nikolas-nkla-house-of-card-crumbles-gm-nothing/



Wish I could be sure that GM did ALL their homework.

[kadee79]

And here is this today....


www.cnbc.com/2020/09/14/barra-gm-conducted-appropriate-diligence-on-2-billion-nikola-deal.html

Think I'll just watch for awhile before I buy any.

[kadee79]

The 'crap' just keeps getting deeper....


https://www.reddit.com/r/wallstreetbets/comments/j0ebbj/ft_nikola_founder_bought_truck_designs_from_third/

[kadee79]

A new development in this one...and why NKLA dropped so much today...

General Motors has done an about-face on its planned partnership with electric auto startup Nikola- sending Nikola shares plunging.

GM pulled the plug on supplying batteries, other parts, and factory space for Nikola's proposed Badger electric pick up truck....effectively putting plans for the electric model on ice. Nikola will now have to refund deposits.

The two also announced Monday that GM will no longer take an 11 percent equity stake in Nikola or get $700 million as stated in the original deal announced in September.

GM was forced to rethink its partnership with Nikola after a short-seller criticized Nikola for being a fraud. Something Nikola has denied.

But GM isn't walking away completely from the startup. Under a new deal, GM will supply its fuel-cell system for two of Nikola's commercial semi-trucks and the two are also discussing the potential use of GM's electric battery system in Nikola's commercial trailers.

news.yahoo.com/gm-renegotiates-future-nikola-182012122.html

[Value Buy]

Bump....... Probably not if you have to run an electric cord to make it move!

[djAdvocate]

Aug 4, 2021 15:40:53 GMT -5 Value Buy said:

Bump....... Probably not if you have to run an electric cord to make it move!

VB:

I remember bashing Tesla a while back. I just wanted to admit that I was absolutely WRONG about this investment. it has done spectacularly. I hope you held your stock.

if you didn't, I hope even MORE that you didn't sell it because of me.