Why Tesla Competitor Nikola Saw Its Stock Fizzle Out | WSJ

by News Update

Nikola was the buzz of Wall Street, trying to cut a path in electric trucking. Now, federal prosecutors are investigating claims that it misled investors. WSJ explains Nikola’s roller-coaster summer and what’s next for the company. Photo Graphic: WSJ

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47 comments

jaideep tribedi October 15, 2020 - 11:03 PM

I hope his cat is alright…

chadlymath October 15, 2020 - 11:08 PM

Either GM & Nikola move forward, together, or they both fall behind while Toyota, Mercedes, Hyundai, & other players like Hyzon are moving forward to bring their FCEV semis & busses out. Nikola the one with the fcev pickup & green fueling stations additionally on their docket, where long hauling & other interests (including fueling other brands) are part of an agenda. All other topics, intending to derail a clean energy & mobility company with all it intends to produce (including with green hydrogen) are dispicable & vile.

Casimiro Tambunting October 15, 2020 - 11:09 PM

THE CON MAN IS USUALLY A GOOD SHOWMAN .

Piano Bench October 15, 2020 - 11:11 PM

Oct 23, 2020 ?? 6:20 How can the report surface if today is Oct 15, 2020???

Dirkosh Vine October 15, 2020 - 11:12 PM

why this photoshop startup still worth billions?

Aniket K October 15, 2020 - 11:17 PM

OK … 4:48 … I can't ignore that cat ?

Zach Stevens October 15, 2020 - 11:18 PM

Fake company. Theranos 2.0

rkem October 15, 2020 - 11:24 PM

Scam! Amen!

Juthapat Wajadee October 15, 2020 - 11:25 PM

I wanna see the cat

kakaak0 October 15, 2020 - 11:37 PM

@ 6:22 you misdated the article… its only 10/15/20 but it shows 10/23/20…

Financial Shinanigan October 15, 2020 - 11:48 PM

0:00 This is Nikola One designed to run on gravity…fixed it for you

Aurobindo Ghosh October 15, 2020 - 11:49 PM

nikola should have started with small cars than from trucks

Financial Shinanigan October 15, 2020 - 11:49 PM

Whenever a company is called a Wall Street Darling, beware.

Aaron p October 15, 2020 - 11:52 PM

The WSJ a little late to the party lol

Boom Cube October 15, 2020 - 11:57 PM

6:24 October 23rd? That date hasn’t happened yet.

Chao Zhao October 15, 2020 - 11:59 PM

The fraud company still has a bizarre valuation 8.7 billion as for now. JP Morgan is still giving Nikola a buy rating. Good job, JP Morgan
https://www.cnbc.com/2020/09/21/jpmorgan-analyst-sticks-with-buy-rating-on-nikola-despite-plunge.html

Boom Cube October 15, 2020 - 11:59 PM

Another great video. ?

Angelo Fenix October 16, 2020 - 12:17 AM

This is way worst that the luckin coffee debacle

ccmyharley d October 16, 2020 - 12:19 AM

Trump 90% lead against Biden in polls….Lol

Max Troy October 16, 2020 - 12:19 AM

What is a Nikola? A Tesla that got caught.

Andrew Ballard October 16, 2020 - 12:19 AM

Never even heard of Nikola. :/

Christian M. October 16, 2020 - 12:38 AM

NKLA Oct 30 Put $22. No investment advice but let's be real here, that's a money grab

Pe6ek October 16, 2020 - 12:42 AM

NIO is next. Think Luckin Coffee here.

glenn alexon October 16, 2020 - 1:13 AM

It's misleading that WSJ calls Nikola a "Tesla competitor"; Tesla sells electric cars and Nikola does not.

Brendon B October 16, 2020 - 1:19 AM

When you have to be sold on an idea vs when the idea sells you.

Antony C October 16, 2020 - 1:24 AM

If you've ever done an experiment with hydrogen, you could tell from a mile away this is a sham.

Peter Reid October 16, 2020 - 1:28 AM

My conscience would be clear with $3Billion in the bank

Tejas Anand October 16, 2020 - 1:34 AM

People are still calling it a Tesla competitor.

Carca Peru October 16, 2020 - 1:35 AM

The future of the USA is all downhill, so a Nikola truck is perfect for you.

abcd xx October 16, 2020 - 1:42 AM

The CEO looks like the bad corporate guy from the movies

Wi Fine October 16, 2020 - 1:58 AM

How is Nikola worth anything when it sells nothing ?

foh_bbb _filay October 16, 2020 - 1:59 AM

"Tesla Competitor" hahahaha

Nicholas Thon October 16, 2020 - 2:02 AM

Nikola was never a competitor. It was a scam from the start.

Tomas T October 16, 2020 - 2:02 AM

I was thinking they would mention the allegations of sexual assault.

101yayo October 16, 2020 - 2:05 AM

I think this also shows that GM CEO does not know what she is doing.

Felipe Behrens October 16, 2020 - 2:06 AM

It should have been obvious that a company that decided to call itself Nikola, given that there is already a company called Tesla, was probably not going to pass the smell test…

Alberto Negrete October 16, 2020 - 2:07 AM

Not a competitor

Jaspreet Singh October 16, 2020 - 2:31 AM

because they're a scam

TRYPTVMINXGLITCH October 16, 2020 - 2:32 AM

lol as if any1 asked

TRYPTVMINXGLITCH October 16, 2020 - 2:34 AM

calling it a tesla competitor is again a big lie. im not even clicking play. dumb

Сохибжамол Солиева October 16, 2020 - 2:35 AM

I need boyfriend ?????????

Yahiko Tendo October 16, 2020 - 2:36 AM

There's literally dozens of accusations against Nikola. Even the most simple claim by Milton was proven wrong. Saying his headquarters ran on solar panels for example which wasn't true and he even admitted indirectly. It's no wonder this company is rapidly going down. Even simple claims r lies, ofc their bigger claims will be lies.

Bad Xerge October 16, 2020 - 2:37 AM

They don't have a working engine, how do people expect this company to develop an engine owned only by the military in a period of months and then develop a working truck around it, yes its the future, but if you don't have the engineering its just a dream of the future.

Kapoooww October 16, 2020 - 2:43 AM

Another guy just living the fake it till you make it dream.

Arale Norimaki October 16, 2020 - 2:48 AM

NKLA is not a TSLA competitor. NKLA is a TSLA troll. I mean why would you name the company Nikola…
They even sue TLSA for no reason other than publicity. everybody knows what they are doing
Instead please pay attention to HYLN / Hyliion. This is the real deal for the trucking industry.

CMG30 October 16, 2020 - 2:50 AM

Total fail as a sumation of the Nikola story. Failed to mention half of the alleged malfeasance of Nikola such as announcements of 'breakthrough' batteries that were used to ensnare even more investments. Failed to disclose that many of the analysts that are expressing faith in Nikola are employed by large financial firms that have huge investments tied up in Nikola till late December when the lockup period from the 'reverse merger' used to take Nikola public, expire.

FELIX DATCHE October 16, 2020 - 3:05 AM

The people who allowed a company with no product to list was the first criminal…how?