NKLA

Nikola Corporation

Industrial/Transportation, SPAC


Presented:09/15/2020
Price:$32.83
Cap:$12.44B
Current Price:$4.25
Cap:$0.22B

Presented

Date09/15/2020
Price$32.83
Market Cap$12.44B
Ent Value$19.81B
P/E RatioN/A
Book Value$2.44
Div Yield0%
Shares O/S378.98M
Ave Daily Vol24,734,100
Short IntN/A

Current

Price$4.25
Market Cap$0.22B
Nikola Corp. engages in the provision of zero-emissions transportation and infrastructure solutions. It designs and manufactures battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen fueling station infrastructure. The company was founded by Trevor Milton in 2015 and is headquartered in Phoenix, AZ.

Publicly traded companies mentioned herein: General Motors Co (GM), Nikola Corp (NKLA)

Highlights

The presenter is short shares of Nikola Corp (NKLA), which is currently being investigated by the SEC following fraud accusations from Hindenburg Research. Since the report was published on September 10, the share price quickly fell from ~$55 to the current ~$35. In response, the company denied the allegations; management also stated that it planned to bring the matter before the SEC, but the presenter believes the SEC’s involvement is based on the Hindenburg Research report. The presenter was short the stock prior to this controversy, analyzing NKLA as a ~$13B market cap company that will be without a product for the next two years and will burn cash for the next five years.

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Idea Discussion

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