So can we all agree that Nikola was/is a fraud? Is Trevor Milton the male version of Elizabeth Holmes?

Seems like Nikola was designed to merge with Tesla.

And didn't Nikola just recently announce a partnership with GM?

I would agree except, I have a hard time believing a company like gm would partner with them without doing their due diligence. If the stock would have tanked, I would have bought in, but it’s down just 20% or so since the news

There is something really strange about it all. But, what I find difficult to wrap my head around, is stories like this...

https://www.motorauthority.com/news/1116145_watch-us-marines-test-the-electric-nikola-utv

This doesn't seem like fraud. But, is it?

old news wrote:

I would agree except, I have a hard time believing a company like gm would partner with them without doing their due diligence. If the stock would have tanked, I would have bought in, but it’s down just 20% or so since the news

Companies do screw up occasionally. But the EV space is loaded up with sketchy companies who are either frauds or just way overpromising. Anyone want to. bet on Elio Motors, Lucid, Faraday or Lordstown Motors actually shipping cars in any volume?

old news wrote:

I would agree except, I have a hard time believing a company like gm would partner with them without doing their due diligence. If the stock would have tanked, I would have bought in, but it’s down just 20% or so since the news

I read a quote from a GM analyst. He said he viewed GM's partnership as like a free lottery ticket. They were going to build the vehicles. If it works out, they get 11% of the company.

What I don't get is the company is still worth $10 billion. Now they did raise hundreds of millions. Are we saying all electric vehicle companies with a few hundred million in the bank is worth $10 billion even if a lot of that was fraudulent?

But the reason why it reminded me of Theranos is the end game. I assume the CEO figured, "Well if we keep raising enough money, we'll eventually be able to design a worthwhile product."

Think the theranos comparison is fair. Even the manner in which the founders try to attach themselves to tech successes ( Holmes black turtleneck —- Jobs...... the name Nikola is the first name of Tesla)

It appears that Nikola has very little to show for itself other than some agreements with companies like GM and Bosch and others to supply items that Nikola in some cases had previously stated they produced in house. Like Theranos with Walgreens, agreements with known conservative companies gives respectability

Remember GM did not invest in Nikola. They got 2 bln in stock in return for technology. So if Nikola collapses it’s egg on Mary Barra face but not 2 bln cash lost

Nikola also brings to light another trend. The backdoor ipo via a SPAC. In this case a SPAC set up by a former GM executive. This allowed NKLA to get public without a lot of the typical IPO scrutiny. If WeWork had used a SPAC it might still be trading. Perhaps the former GM exec gave comfort to GM brass that all was ok

So why stay in the deal? It’s all about FOMO. Given the accusations in the Hindenberg report and Milton resignation, one would have thought that the stock would be single digits. Instead it’s down 20%. The market is basically saying So What ? Everyone including GM is afraid of missing out on another Tesla stock like move in spite of the actual news. It’s all about being in the hot EV space and telling the story. — facts and valuation are just annoying

In any other time GM likely would have abandoned the deal

I guess Robin Hood is running the show these days

Who is ready to short this puppy?

Love capitalism. A hedge fund takes out a huge short position on a company and then publicly accuses it of securities fraud causing the stock to tank. An THEN the SEC and DOJ open an investigation.

Nikola's big thing is hydrogen fuel cells. Nikola plans to have their own hydrogen filling stations that are also hydrogen production facilities. Nikola uses power from solar energy to create hydrogen, making it zero emissions.

This is not really that far out there. Some companies are developing hydrogen production to link up with solar and wind production. When the solar and wind production exceeds demand (which happens frequently on hot sunny days or windy days), the hydrogen production facility kicks into gear and makes hydrogen from the excess power supply.

There are also plenty of good hydrogen fuel cell designs out there.

Nikloa's big innovation is supposed to reduce the cost of hydrogen production. If they can do that, they could potentially be the Amazon/Apple of zero emission heavy trucks. Demand from countries with zero emissions pledges could make that Nikola worth zillions.

Love Communism. A bureaucracy sends too much money (laundering public funds) to its friends in another bureaucracy and then covers it all up, and whaaalaaa, what?

"If you're not stealing from the government, you're stealing from your family"

- an old communist proverb

GM has made similar deals with equally sketchy companies in this space that ultimately failed miserably. I know.

Once again, you don't even have a clue what you are talking about. I can't believe what a bloviating fool you are. You know nothing about this field.

I guess Precious boy does not want to defend his profound knowledge of hydrogen generation technologies. Funny how he bloviates and then hides in his closet.

So the idea is decent but that doesn't mean that a high school dropout who has been accussed of inappropriately touching his 15-year old cousin is the genius to figure out how to make the idea come to fruition.

I mean coming up with ideas is easy. I thought of the "foldable phone" idea 10 years ago but didn't think I had any edge in bringing it to market.

Even if the product works, Nikolas Trucks are going to be a hard sell. The price point is too high, the independent trucker isn't going to pay that price. Most are barely able to afford used rigs. There is just not a premium market in this space.

And charging is going to be a huge issue.

Of course a short seller is gonna go around saying the company sucks.

Nikola doesn’t have a new fuel cell technology, the deal with GM was to buy GM fuel cells. Nikola doesn’t have any new electrolysis technology, they are buying electrolysis units from Nel. Nikola doesn’t have any new solar/renewable energy sources, they are buying them from many other established firms.

Fuel cells have been around for over 50 years and they are being developed/improved by dozens of major companies, but Nikola is not one of them. Electrolysis units have been around for over 50 years and they are being developed/improved by dozens of companies, but Nikola is not one of them. Photovoltaics and wind turbines have been around for 50 years and they are being developed/improved by dozens of companies, but Nikola is not one of them. Fuel cell cars and hydrogen refueling stations have been around for decades and they are being developed/improved by dozens of major companies, but Nikola is not one of them. People have been building trucks for a century by many major companies, but Nikola is not likely to be one of them.

Nikola has thrown together a handful of technologies that have been developed by others through billions of dollars of investment and somehow has tried to sell the combination as something novel. There is nothing novel about building a truck. There is nothing novel about buying a fuel cell. There is nothing novel about buying and electrolysis unit and a solar cell to power it. There is nothing novel about a hydrogen fueling station. There is nothing proprietary here.

In the end, it is pretty clear that Nikola is nothing but smoke and mirrors.

Here is Nicola's website. Can you explain to me where they discuss their great new innovation to reduce the cost of hydrogen production? Milestones, basic description of the new technology, pictures of this great new technology, examples of where it has been demonstrated, performance compared to 10 dozen other technologies out there for the past 50 years?

https://nikolamotor.com/

Nikola certainly appears to be a fraud, but you my Precious are clearly a charlatan.

Is Rojo Precious?