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NKLA - Nikola Corporation

Discussion in 'Stock Message Boards NYSE, NASDAQ, AMEX' started by StockJock-e, Jun 10, 2020.

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  1. StockJock-e

    StockJock-e Brew Master
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    Nikola Corporation manufactures electric vehicles. The company offers battery-electric (BEV) and hydrogen fuel-cell electric vehicles (FCEV). It manufactures semi-trucks and powersports vehicles. Nikola Corporation was founded in 2015 and is based in Phoenix, Arizona.

    [​IMG]
     
  2. StockJock-e

    StockJock-e Brew Master
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    Market cap greater than Ford at the moment.

    Im really not sure what is going on here.
     
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  3. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    This has to come back down a lot eventually :eek: Guess the stock price is benefiting from TSLA doing great
     
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  4. rg7803

    rg7803 Active Member

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    Amazing.....market cap bigger than FORD and....

    upload_2020-6-14_23-28-55.png
     
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  5. leonx81

    leonx81 Well-Known Member

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    Trevor Milton reminds me of Elizabeth Holmes of Theranos. Will add more puts if the SP continues going higher.

    Screenshot_20200717-215433.jpg
     
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  6. StockJock-e

    StockJock-e Brew Master
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    LOL, You gotta hand it to them, this pulled off a sweet pump for those guys in it from earlier.
     
  7. TomB16

    TomB16 Well-Known Member

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    I don't generally bet against companies but Nikola makes it very tempting. Excellent analog between Milton and Holmes.

    There just isn't much money in building electric Semi-trucks. Even looking into the future, it could be a nice business but there is a fixed ceiling on how large the company can get. What's more, they have a lot of competition in the space.

    If Tesla was just a car company, it would be 20x overvalued. As far as I know, Nokola is just an EV truck company.
     
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  8. B Russ

    B Russ Active Member

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    @leonx81 thats an amazing play. I have been telling my pal how big a POS i think this company has been since the minute it hit my radar. The tech just seems obsolete already.... But was too scurred to make a play on it. I don't dabble in trading much, these days. But that put u posted was like some trade porn for me, in seeing that gap down, this morning! Im watching now, just to live vicariously through your 1.5yr option!

    Edit: lol. Swear tomb, not stalking your posts. I was typing the same time i guess. o_O:D
     
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  9. TomB16

    TomB16 Well-Known Member

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    It's OK. I've been stocking your posts for some time.
     
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  10. 姑爺仔

    姑爺仔 Active Member

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    I will buy the stock, when I can buy the car. Too many headwinds. No factory. No production assembly. No distribution network. Not even building 1 vehicle at a time on order.

    I said the same thing about Tesla. I waited until cars could actually be sold, until I got in. And even then, orders were on backorder. A customer had to order the car and wait. Then Tesla would produce to fill orders.

    Toyota floods the market with 600,000 cars. Tesla delivers 60,000. Nikola sold zero.
     
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  11. B Russ

    B Russ Active Member

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  12. StockJock-e

    StockJock-e Brew Master
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    This post from reddit is pure gold
    https://www.reddit.com/r/StockMarke...or_milton_is_likely_a_sociopath_you_heard_it/


    Trevor Milton is likely a sociopath. You heard it here first, DD inside.
    After watching several interviews with Trevor Milton, I noticed that he engages in behavior that is similar to other fraudster CEOs, such as Elizabeth Holmes, Jeffrey Skilling, Adam Neumann, Billy McFarland, etc.

    Almost every interview of his includes contradictory information. It would probably take an hour-long YouTube video to explain all of the instances, but I'll just go by a few here that you can watch yourself. A few quick instances first:

    • His company obviously copied Tesla by naming their company after Nikola Tesla, just choosing the first name instead. Then Trevor has the audacity to say that he can "out-Elon Elon". K, based on what? All of your past failures?

    • His company is a patent-troll. They sued Tesla for $2 BILLION, over something so incredibly stupid, and expected Tesla to pay out because "they have billions anyways". This is on the level of those people who fake-trip in a Walmart and sue because "they have billions anyways". It's trolling/sociopathic behavior.

    • Trevor said "they're focusing on products that generate revenue", which is why they got into hydrogen fuel cell (HFC) long-haul trucks. This was completely contradicted by their introduction of a pick-up truck, off-road 4x4, and a HFC jetski. Like, those are fun products, about 95% of customers buy those products for fun, not to make money off of.

    • He cashed out $70,000,000 in NKLA stock and purchased a $35,000,000 home before the company even sold a single truck.

    • NKLA applied for a $4 Million PPP loan, despite Trevor cashing out $70,000,000 in stock, and his company being worth Billions (on paper, but they still have a credit line).

    • On numerous occasions and interviews, Trevor talked about their company being "vertically integrated", i.e. owning the entire process from design, to production, to hydrogen fueling. What's really happening is their trucks are being built by a company all the way in Italy (or Germany), and then shipped to the US. He also has no plans on building out the Hydrogen fueling infrastructure. The "renderings" they keep showing he says will only cost "$10-15 Million each". That's ridiculous, the renderings for his HFC truck-stops are massive complexes that take up tons of land. Yeah, that's okay for Arizona and Utah, but not in the urban environments where most Trucks operate. And if you only have HFC-filling stations on the outskirts of cities, they'll be busy all the time which will increase transit times and cost more money. It's not like a Tesla Charging station that can just be built in a parking lot or near a loading dock.

    • Videos of their "warehouse" are all empty. It's not like Tesla's Fremont plant where there are thousands of workers.

    • NKLA went public through a "reverse merger", which isn't always bad, but it's still a sneaky/backdoor way to become publicly traded and in my opinion is worth staying away from on that basis alone.

    • The terms of their lock-out period expiration are just ridiculous. Some people are becoming millionaires before anything has even been sold. All they did was photoshop a few renderings for a few months, and that's somehow worth millions??

    • They don't even plan on having any trucks for sale for years. That means the next few years they're just going to be burning investors cash. Reminds me of DryShips, MoviePass, Theranos, etc.


    • Their "Badger" truck is nothing more than a rendering, and they're already accepting deposits for it?? That doesn't make any sense at all, it's years away from production. Their truck is nothing special compared to something like Rivian's or Tesla's, and both of those companies actually have working prototypes.

    • It'll be interesting if "Nikola World" even has a Badger Truck to show off. (Also, the name completely sucks)

    • He always sidesteps questions asked by interviews and twists the questions. She asked about them not producing a pickup truck, and then he says "Well we have made a truck, we made the world's most advanced HFC truck..." Yeah, not what she was talking about.

    • Anheuser Busch has made FREE reservations of about 800 trucks, but they haven't committed any money to the project. Anyone can go reserve a truck for free. Reservations ARE NOT sales, and Trevor talks like they're sales. That's what got Enron in trouble in the 2000s with their "Mark-to-market accounting" tricks.

    • In this interview, he mentions "fun" way too often. Not really sociopathic, just kind of weird.

    • They threatened to sue Bloomberg over the fact that their truck wasn't functional, which was true. If you haven't performed safety testing, then the truck isn't functional. People don't buy products without safety testing. That's why they're not actually following through on the lawsuit, because Trevor knows they would lose.

    • He uses the same logic as Elizabeth Holmes, when she would spout that bullshit like "First they say you're crazy, then they fight you and then all of a sudden, you change the world." Worked out well for her, lmao!

    • Why do they have such a big factory/warehouse space in Arizona, when their trucks are being "hand built" in Germany (wait, not Italy anymore??)? Also, hand-built means not an assembly line, right? He also continuously gets his dates messed up. In this interview he said they'd be beginning production within the next few months, but in this article he says production won't begin until 2021.

    • Why is he taking shitty vertical cell-phone footage of trucks? Can't he have other employees do that?

    • He talks about "tickets to Nikola World" like it's fucking Coachella or something. It's a company-sponsored event dude, no one gives a shit. Ooh, you get a $100 ticket if you put down a $1,000 deposit for a truck that's not going to be coming out for years?? What a deal!

    • That factory in Ulm, Germany he keeps mentioning? Right now, they only produce fire trucks, they don't even manufacture semi-trucks. So, uh, they're just going to convert from building diesel powered fire trucks to building electric and/or HFC trucks? Has that ever been done before ever?

    • Trevor thinks that two days of reservations is enough to forecast an entire year's worth of reservations.

    • In that article, he takes all criticism as "haters" or whatever, and not people who just want to understand what's going on. That's cult-like behavior, something to avoid in droves if you ever see it as an investor.
    I could go on, that's what I've seen so far, and I'll probably keep updating this in the future. Result: I'd stay far away from this stock simply because they have nothing for sale for years, which is ridiculous. The CEO acts like a sociopath, and seems to embody the types of traits seen in other sociopaths who were engaging in fraudulent/vaporware products. They're just going to burn through any money that investors have added before delivering anything.

    Edit: As mentioned in the comments, Trevor Milton isn't even the CEO any more. That job has been taken up by Mark Russell who was the former CEO of Worthington Industries, a metal manufacturing company.
     
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  13. B Russ

    B Russ Active Member

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    Haha. Thanks. I figure its zero in a few yrs and we will be watching nextflix documentaries on him soon. But just wanted to confirm. I figure this was a backdoor way to steal shares at a bargain. Just wanted to confirm.
     
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  14. 姑爺仔

    姑爺仔 Active Member

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    Was this the company which pushed out a non-driveable model?
     
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  15. StockJock-e

    StockJock-e Brew Master
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  16. T0rm3nted

    T0rm3nted Moderator
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  17. A55

    A55 Active Member

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    Screenshot_2020-08-05-19-48-10_kindlephoto-492958717.png Screenshot_2020-08-01-20-39-11.png
     
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  18. TomB16

    TomB16 Well-Known Member

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    Check out how CNBC treats Trevor Milton of Nikola and consider how they have treated anyone saying anything positive about Tesla. My gawd. What a greasy whore show.

     
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  19. A55

    A55 Active Member

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  20. A55

    A55 Active Member

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    Screenshot_20200808-152739.png Screenshot_20200808-152935.png Screenshot_20200729-003632.png Screenshot_20200729-003452.png Screenshot_20200808-152739.png Screenshot_20200808-152935.png Screenshot_20200729-003632.png Screenshot_20200729-003452.png No product. No revenue. Everyone is a liar. The Badger is real! $36,000 from installing solar panels on his own house. Company is doing great!
     
    #20 A55, Aug 8, 2020
    Last edited: Aug 8, 2020

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