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Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud

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Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud

#21

Post by rvz »

Invictus0 wrote: post #14

If you haven't seen the Hindenburg report, I recommend reading it for the comedic value: https://hindenburgresearch.com/nikola/ Notable laughs: * Nikola rolled their semi truck down a hill to show that it worked * Trevor appointed his brother Travis "Director of Hydrogen Production/Infrastructure" when his only experience was pouring concrete driveways * The infamous "HTML5 supercomputer" comment: https://www.youtube…

It's great to unveil such 'scams' and have investigations like this for everyone to see. I'm glad I shorted them before all of this. So we'll see what happens next.

Now the next great scam we all want answers for and we need to talk about is that misleading contraption called FSD.

Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud

#22

Post by belter »

dreyfan wrote: post #2

And yet NKLA still has a $5B market cap despite the entire company being 100% fraud. Amazing. [1] https://finance.yahoo.com/quote/nkla

Well if a Deli can be worth 100 million...

https://www.cnbc.com/2021/04/15/theres-a-single-new-jersey-d...

Maybe all these valuations are correct and its the dollar that is going the direction of the zimbabwean dollar ? https://s.wsj.net/public/resources/images/P1-BA632_ZIMDLR_DV...

Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud

#23

Post by the-dude »

Invictus0 wrote: post #14

If you haven't seen the Hindenburg report, I recommend reading it for the comedic value: https://hindenburgresearch.com/nikola/ Notable laughs: * Nikola rolled their semi truck down a hill to show that it worked * Trevor appointed his brother Travis "Director of Hydrogen Production/Infrastructure" when his only experience was pouring concrete driveways * The infamous "HTML5 supercomputer" comment: https://www.youtube…

> when his only experience was pouring concrete driveways

In NL we call this 'has affinity with the core business'.

Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud

#24

Post by squarefoot »

typon wrote: post #16
Invictus0 wrote: post #14

If you haven't seen the Hindenburg report, I recommend reading it for the comedic value: https://hindenburgresearch.com/nikola/ Notable laughs: * Nikola rolled their semi truck down a hill to show that it worked * Trevor appointed his brother Travis "Director of Hydrogen Production/Infrastructure" when his only experience was pouring concrete driveways * The infamous "HTML5 supercomputer" comment: https://www.youtube…

This company was an obvious scam from the beginning...the EV hype brought on by Tesla swept up so many naive people. Some of my family invested in this stock and lost a lot of money.

The company name alone should have been a hint that they were building on Tesla's hype.

https://en.wikipedia.org/wiki/Nikola_Tesla

Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud

#25

Post by vitaliyf »

lesuorac wrote: post #18
typon wrote: post #16

Earlier quoted context omitted.

This company was an obvious scam from the beginning...the EV hype brought on by Tesla swept up so many naive people. Some of my family invested in this stock and lost a lot of money.

It looks like share price was ~10$ at the start (2018 to 2020) and is currently ~13$ so presumable your family could cash out right now for a 30% profit.

$10 was the SPAC before they merged to become NKLA. The merger was announced in March 2020 (when the price jumped to low teens) and completed in June (when the hype made it go up to $60s).

Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud

#26

Post by hugi »

the-dude wrote: post #23
Invictus0 wrote: post #14

If you haven't seen the Hindenburg report, I recommend reading it for the comedic value: https://hindenburgresearch.com/nikola/ Notable laughs: * Nikola rolled their semi truck down a hill to show that it worked * Trevor appointed his brother Travis "Director of Hydrogen Production/Infrastructure" when his only experience was pouring concrete driveways * The infamous "HTML5 supercomputer" comment: https://www.youtube…

> when his only experience was pouring concrete driveways In NL we call this 'has affinity with the core business'.

"Has paved paths and laid foundations for the automobile industry"

Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud

#27

Post by ajross »

typon wrote: post #16
Invictus0 wrote: post #14

If you haven't seen the Hindenburg report, I recommend reading it for the comedic value: https://hindenburgresearch.com/nikola/ Notable laughs: * Nikola rolled their semi truck down a hill to show that it worked * Trevor appointed his brother Travis "Director of Hydrogen Production/Infrastructure" when his only experience was pouring concrete driveways * The infamous "HTML5 supercomputer" comment: https://www.youtube…

This company was an obvious scam from the beginning...the EV hype brought on by Tesla swept up so many naive people. Some of my family invested in this stock and lost a lot of money.

I think that's very much a hindsight kind of thing. I mean, yes, Nikola was a scam. But in "the beginning" the only people willing to say that it was a scam were ones who sounded exactly like the much louder, better funded, and media-accessible people screaming that Tesla was a scam. This very site was filled with $TSLAQ nonsense. And it was all wrong, much of it deliberately so.

The investment world is drowning in deliberate misinformation. There's no path for reasoned criticism to break through. Pick any stock and there's someone willing to tell you it's a scam. Or a gem.

Edit: and this subthread is a perfect, shining example. Just look at all the people jumping in to perpetuate and argument that somehow Tesla is, I guess, comparably fraudulent to Nikola, a company that got caught faking a vehicle that didn't exist. No one trusts you people, because you sound the same for everything.

Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud

#28

Post by imglorp »

raesene9 wrote: post #19

Interesting how even after this was announced, their market cap is over $5b ( https://www.google.com/finance/quote/NKLA:NASDAQ ) in the same ballpark as established car companies like Mazda ( https://www.google.com/finance/quote/MZDAF:OTCMKTS )

What? How?

Is there any potential upside at all, unless it's another pump and dump or short squeeze game?

Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud

#29

Post by the-dude »

hugi wrote: post #26
the-dude wrote: post #23

Earlier quoted context omitted.

> when his only experience was pouring concrete driveways In NL we call this 'has affinity with the core business'.

"Has paved paths and laid foundations for the automobile industry"

Are you in PR? :-)

I think paved ways is canonical ( not a native speaker though ).

Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud

#30

Post by chasebank »

dreyfan wrote: post #2

And yet NKLA still has a $5B market cap despite the entire company being 100% fraud. Amazing. [1] https://finance.yahoo.com/quote/nkla

Older I get, more I realize the market is just a game of human psychology. Stocks, housing, crypto, etc. History says speculative 'investing' ends poorly but this time, who knows? If you happen to have the answer, I'm all ears.
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