A great opportunity to short $NKLA, if you haven't already done it.
If you're reading an article about the indicting the founder of a company and someone is posting on HN that it's a good time to short, then it's too late to short.
Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud
231–240 of 533 posts
Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud
#232Been a long turbulent road, lots of interest payments, lots of downvotes, but soon I will be able to close out my massive short position that I opened 10 months ago against this company.
Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud
#233Earlier quoted context omitted.
Traditional car stocks are at bargain( ) prices now. ( ) some may read that as sane, or trading according to fundamentals.
Only if your hypothesis is that companies like Mazda won't wither in the inevitable electric car disruption.
My guess is fossil fuel cars will remain competitive with electric cars (cost per mile wise), since the more demand for fossil fuels drop, the cheaper it gets to operate fossil fuel cars.
It really depends when the governments actually start banning fossil fuel cars. Or implements higher fossil fuel taxes, but I do not see a chance of that. And I do not see bans for new fossil fuel cars actually going into effect for at least 15 to 20 years.
Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud
#234Where's Al Gore? This is the one big company that can stop, if not reverse, global climate change.
Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud
#235Earlier quoted context omitted.
> just isn't worth the effort for the average ownership span. There's no rule that says you need to hold stocks for the same average period that the rest of the market does. Analyzing securities and purchasing those that are undervalued is still an extremely profitable activity at many hedge funds and prop trading desks. The fact that the average investor is more FOMO-driven these days only makes sound analysis more…
This is true up until the point where your logically sound short of GME comes up against “apes together stronk”
That's why I wrote:
> higher variability but better expected value.
If you put all your money into shorting GME then yes, you will have a bad time when WSB gets excited again. If you have a widely spread portfolio of shorts in overhyped companies with weak fundamentals and longs in underhyped companies with strong fundamentals, having a few trades go against you is not the end of the world.
Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud
#236Nikola looked like a fairly obvious scam to me the first time I've read about them. I find it surprising and strange that they were able to hoodwink so many people.
You'd be suprised how many idiots there are.
Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud
#237Earlier quoted context omitted.
> History says speculative 'investing' ends poorly If it ends poorly for someone(s), then it ends fabulously for someone(s) else. The same could be said for gambling... the lure of easy money is difficult for people to resist.
It’s not zero sum though
Buying and selling stocks (or crypto, or ...) on its own is zero-sum. If you sell your stock, someone else has to buy the stock for that same amount of money. You can only make money if someone else loses.
The loser does not realize they have lost money immediately, and while the stock price is up it looks like there are only winners. The losers only realize they have lost money after the asset collapses in price while they own the asset. That is the beauty of these schemes. The losers are already there, they just don't know it yet. Of course they are also heavily motivated to keep the price up to prevent themselves from becoming losers (hence HODL, "apes together strong", etc). These schemes can go on for a while, and a lot of people can make a lot of money in the process (again, at the expense of the losers, no money is being created here).
Stocks are only not zero sum once you account for e.g. dividends being paid out. That applies to companies with a solid foundation, but it is unlikely a company with no income stream that is rooted in fraud is going to be paying out sufficient dividends to their stock owners to account for the purchase price.
Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud
#238Earlier quoted context omitted.
> Nikola was building barely functional prototypes of their trucks years before Tesla was building barely functional Semi truck prototypes, for the record. If by "barely functional" you mean a metal skeleton on wheels that rolled down hills, then yes. I'm not a shill for Tesla as they definitely have made very questionable claims in the past, but to claim that Nikola's semi is in any way similar to Tesla is a bit of…
This person is a troll. The Tesla semi is not “barely functional”. They have been spotted driving all over the place and doing real world testing on actual highways and in cold weather. Production was already to be started except for a shortage of battery cells (due to the extreme popularity of their existing cars and powerwalls/megapacks) which they are working to remedy.
The Tesla truck is vaporware
https://youtu.be/56862W24HK8
Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud
#239Been a long turbulent road, lots of interest payments, lots of downvotes, but soon I will be able to close out my massive short position that I opened 10 months ago against this company. Reference: https://news.ycombinator.com/item?id=24473631
Curious what your average borrow cost is, if you’re comfortable saying.
Given the absurdity of cult bagholders that formed around this thing, I’d imagine it was reasonably hard to borrow.
Re: Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud
#240Earlier quoted context omitted.
I browse through a lot of niche investing social media groups. One of the more liked posts on a Nikola investment group was, "If "they" cared about the future, the earth and the renewable energy issue, they would let whatever Trevor did slide." Surprisingly, I saw similar posts about Musk on the Thailand rescuer tweet and the price too high tweet. You are not betting against the fundamentals or the realities of the s…
Something can be true in one case and not true in another. Nikola looked like fraud from the start (no Silicon Valley funds invested iirc - money came from Detroit). Elon Musk is obviously different.
Silicon Valley is choke full of fraud and absurd valuations.