Author Topic: NKLA - Nikola  (Read 13120 times)

cherzeca

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Re: NKLA - Nikola
« Reply #80 on: September 15, 2020, 04:48:06 PM »
looks awful for GM.  either they bail, and look awful, or they stay and look (worse than) awful.


Gregmal

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Re: NKLA - Nikola
« Reply #81 on: September 15, 2020, 04:53:59 PM »
looks awful for GM.  either they bail, and look awful, or they stay and look (worse than) awful.

BBBBUT! They got something for nothing!

Never a free lunch. Looks like they got had for publicity, resources, and labor....They'd be lucky, if even able, to unload their entire stake for 50c on the dollar tomorrow. The beauty of these SPAC deals for the smaller investor is the strategically placed shares/ownership structure. Creates a very tight float and thats why you see these crazy blastoffs on occasion(or recently, like every other day). But for GM, good luck unloading anywhere in the universe of current bid.

Libs

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Re: NKLA - Nikola
« Reply #82 on: September 15, 2020, 05:09:54 PM »
Watching those Sam Alexander videos is interesting. Milton is such a transparent huckster.....all the way up to the shifty eyes when lying.

Financial Times is reporting the DOJ is now investigating.
My username is not a political statement.....and I'm too lazy to change it.

Value^2

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Re: NKLA - Nikola
« Reply #83 on: September 16, 2020, 08:47:04 AM »
 


fareastwarriors

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Re: NKLA - Nikola
« Reply #85 on: September 16, 2020, 01:37:51 PM »

Gamecock-YT

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Re: NKLA - Nikola
« Reply #86 on: September 20, 2020, 09:18:46 PM »
https://twitter.com/HindenburgRes/status/1307887163036635137

BREAKING: FreightWaves reporting "Trevor Milton has resigned as Executive Chairman of Nikola Motors (NASDAQ: NKLA) and has departed the company effective immediately."

fareastwarriors

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Re: NKLA - Nikola
« Reply #87 on: September 20, 2020, 09:21:04 PM »
https://twitter.com/HindenburgRes/status/1307887163036635137

BREAKING: FreightWaves reporting "Trevor Milton has resigned as Executive Chairman of Nikola Motors (NASDAQ: NKLA) and has departed the company effective immediately."

Nikola founder Trevor Milton to voluntarily step down as executive chairman

Nikola announced early Monday that founder Trevor Milton is voluntarily stepping down from his roles as executive chairman and a member of its board.

The announcement comes after short-selling firm Hindenburg Research accused Nikola of fraud. The company pushed back on the accusations, saying there were “dozens” of inaccurate allegations in the report.

In an early Monday tweet, Milton said, “I intend to defend myself against false allegations leveled against me by outside detractors.


https://www.cnbc.com/2020/09/21/nikola-founder-trevor-milton-to-voluntarily-step-down-as-executive-chairman.html
« Last Edit: September 20, 2020, 11:45:58 PM by fareastwarriors »

Ballinvarosig Investors

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Re: NKLA - Nikola
« Reply #88 on: September 21, 2020, 03:33:26 AM »
I am going to call this one, Nikola is finished.

The optics just look dreadful. When the short report came out last week, Milton claimed it was completely false and that he would vigorously defend against the allegations. One week later, it's shown that the short report was largely correct, and now Milton resigns with immediate effect. Milton might claim that it his exit was voluntary, but I do not see how that is possible. Founders with a 25% stake in the company generally don't just walk away a week after a damning short report, they stand their ground and fight. It's clear that the board have met (and decided over the weekend which is extraordinary), found gross misconduct on Milton's behalf, and have taken action and forced him out. My guess is that they have found other bodies hidden in the closet, perhaps we shall hear about these more in the coming weeks. There is never just one cockroach.

With Milton out and the company now totally laid bare as little more than a shady business proposal, I do not see where Nikola goes from here. While Milton was a phony, sometimes with this type of company, you need someone with the cojones to brazen things out (Tesla the obvious classical example). Who with vision is going to be able to lead this thing going forward, especially now that it is tainted? The scale of what Nikola want to do is huge and the cash on hand is nowhere near enough to fulfil that. They won't be able to finance anything, and I seriously doubt that anyone is going to want to get involved in any new shares. For all the talk of GM, they are not putting any money into this deal. If the company wants to execute on their vision, then they have to ramp up and accelerate their quarterly losses (cash on hand is $700m, current quarterly operating loss is $87m and rising rapidly). To continue to ramp up, they will need a LOT of new capital. Again, I ask who is going to touch this thing now?

Marc Cohodes once described shorting timing as waiting for someone to shoot the jaguar out of the tree before going to work on it. Well, the way this jaguar has fallen out of the tree, it's broken its neck and is already bleeding out of several arteries.

Ballinvarosig Investors

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Re: NKLA - Nikola
« Reply #89 on: September 21, 2020, 03:48:23 AM »