Go back to previous topic | Forum name | General Discussion | Topic subject | Today, I jumped out of Nikola after this report. I'll get back in later | Topic URL | http://board.okayplayer.com/okp.php?az=show_topic&forum=4&topic_id=13400636&mesg_id=13403131 |
13403131, Today, I jumped out of Nikola after this report. I'll get back in later Posted by Case_One, Thu Sep-10-20 11:55 AM
UPDATE: Short seller Hindenburg alleges that electric truck maker Nikola is an 'intricate fraud' in new report Published: Sept. 10, 2020 at 11:09 a.m. ET By Ciara Linnane
https://www.marketwatch.com/story/short-seller-hindenburg-alleges-that-electric-truck-maker-nikola-is-an-intricate-fraud-in-new-report-2020-09-10?siteid=yhoof2&yptr=yahoo&fbclid=IwAR3ftBjI6Alh4HTO-8jq4z2w1wSWf8ACLJXjXyEcJiLRE8j0V1nmyDM5O28
Short seller Hindenburg Research published a report on electric truck maker Nikola Inc. NKLA, -9.30% on Thursday, accusing it of being an "intricate fraud" built on lies told by its Founder and Executive Chairman Trevor Milton over many years. Nikola shares fell 9% on the news. "We have gathered extensive evidence-including recorded phone calls, text messages, private emails and behind-the-scenes photographs-detailing dozens of false statements by Nikola Founder Trevor Milton," said the report. "We have never seen this level of deception at a public company, especially of this size." Nikola has misled partners by making false claims about the company's technology, including its hydrogen fuel cell batteries, which Hindenburg says never existed. The company is now planning to use General Motors Co. battery technology after signing a deal with GM this week, under which it will issue $2 billion of new shares to GM. "Nikola has been vetted by some of the world's most credible companies and investors," a spokeswoman said in emailed comments. "We are on a path to success and will not waver based on a report filled with misleading information attempting to manipulate our stock."
. . βIt was the evidence from science and history that prompted me to abandon my atheism and become a Christian.β β Lee Strobel, The Case for Christ
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