Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

GM scales back partnership with electric truck startup Nikola

detroitnews.com

Post reply on HN
Print view View original

11–20 of 122 posts

Re: GM scales back partnership with electric truck startup Nikola

#11

Post by ProAm »

jariel wrote: post #8

NKLA has nothing now, what we're left with is evidence of the new era of 'RobinHood' traders et. al. thinking they're on to something, or not realizing that it's really over, keeping some kind of valuation in place. We may be in a new era of equities, where the unfortunately under-informed masses are able to really move the needle on a lot of stocks, throwing all sorts of value-trading strategies out the window. In t…

> In this kind of market, all you need is a Donald Trumpish like figure and nothing else to keep the fake-valuation going on forever.

Or due diligence? This is GM's fault really not Nikola (the latter was simply selling snaked oil).

Re: GM scales back partnership with electric truck startup Nikola

#12

Post by vmception »

jariel wrote: post #8

NKLA has nothing now, what we're left with is evidence of the new era of 'RobinHood' traders et. al. thinking they're on to something, or not realizing that it's really over, keeping some kind of valuation in place. We may be in a new era of equities, where the unfortunately under-informed masses are able to really move the needle on a lot of stocks, throwing all sorts of value-trading strategies out the window. In t…

> We may be in a new era of equities, where the unfortunately under-informed masses are able to really move the needle on a lot of stocks, throwing all sorts of value-trading strategies out the window.

nah, we just need valuations another order of magnitude higher in more companies.

when the market is flooded with money the price of everything goes higher because there is nothing else to buy. that's literally what "inflation linked assets" means. Like most financial terms, it is a euphemism where the financial professional tries to keep a straight face for the longest time.

Re: GM scales back partnership with electric truck startup Nikola

#13

Post by NicoJuicy »

jariel wrote: post #8

NKLA has nothing now, what we're left with is evidence of the new era of 'RobinHood' traders et. al. thinking they're on to something, or not realizing that it's really over, keeping some kind of valuation in place. We may be in a new era of equities, where the unfortunately under-informed masses are able to really move the needle on a lot of stocks, throwing all sorts of value-trading strategies out the window. In t…

He tried that already.

Literally, if you watch his interview about the DJT ticker, you see him praising everything and blaming others when it went bankrupt.

Re: GM scales back partnership with electric truck startup Nikola

#14

Post by phkahler »

cultus wrote: post #3

It's an incredible testament to the distortions of the capital markets that Nikola's current market cap is still $7.84 billion, and not zero. There's nothing that justifies that other than the hope that one will be able to leave others holding the bag.

Almost the entire market is now a scam IMHO. Remember, price is a function of supply and demand. People are blindly putting money in their 401k at a fantastic rate which is higher than the rate they take it out. This is part of why it was so important not to let Covid affect white collar jobs.

Re: GM scales back partnership with electric truck startup Nikola

#15

Post by Cactus2018 »

lumost wrote: post #7
cultus wrote: post #3

It's an incredible testament to the distortions of the capital markets that Nikola's current market cap is still $7.84 billion, and not zero. There's nothing that justifies that other than the hope that one will be able to leave others holding the bag.

https://www.google.com/amp/s/www.architecturendesign.net/ins... The market can only price accurately if all participants are rational or at the very least are on average rational. As the effective number of participants falls and the need for those participants to make rational economic decisions falls, were likely to see more weworks, theranos, and nikolas. Wait until we see someone buy multiple city blocks of Manha…

Would love to see photos of the indoor tennis court in its prime.

I'm surprised property taxes never caught up with that mansion!?

Re: GM scales back partnership with electric truck startup Nikola

#16

Post by MattGaiser »

miohtama wrote: post #5
cultus wrote: post #3

It's an incredible testament to the distortions of the capital markets that Nikola's current market cap is still $7.84 billion, and not zero. There's nothing that justifies that other than the hope that one will be able to leave others holding the bag.

Hopium is strong in RobinHood bag holders. See: already bankrupted Hertz shares.

Several stimulus cheques went there:

https://www.cbc.ca/news/business/hertz-stock-sec-1.5616307

Re: GM scales back partnership with electric truck startup Nikola

#17

Post by MattGaiser »

phkahler wrote: post #14
cultus wrote: post #3

It's an incredible testament to the distortions of the capital markets that Nikola's current market cap is still $7.84 billion, and not zero. There's nothing that justifies that other than the hope that one will be able to leave others holding the bag.

Almost the entire market is now a scam IMHO. Remember, price is a function of supply and demand. People are blindly putting money in their 401k at a fantastic rate which is higher than the rate they take it out. This is part of why it was so important not to let Covid affect white collar jobs.

How does that make the market a scam? It just makes it more expensive.

Re: GM scales back partnership with electric truck startup Nikola

#19

Post by bonestamp2 »

ProAm wrote: post #11
jariel wrote: post #8

NKLA has nothing now, what we're left with is evidence of the new era of 'RobinHood' traders et. al. thinking they're on to something, or not realizing that it's really over, keeping some kind of valuation in place. We may be in a new era of equities, where the unfortunately under-informed masses are able to really move the needle on a lot of stocks, throwing all sorts of value-trading strategies out the window. In t…

> In this kind of market, all you need is a Donald Trumpish like figure and nothing else to keep the fake-valuation going on forever. Or due diligence? This is GM's fault really not Nikola (the latter was simply selling snaked oil).

Absolutely. I talked to two former GM executives after the original Nikola deal was announced and they couldn't wrap their heads around why GM was involved with Nikola. Both came to the same conclusion, that GM was somehow wrapped up in the same hype that Nikola shareholders were, and I think the scaling back proves they were right.

Re: GM scales back partnership with electric truck startup Nikola

#20

Post by MattGaiser »

jariel wrote: post #8

NKLA has nothing now, what we're left with is evidence of the new era of 'RobinHood' traders et. al. thinking they're on to something, or not realizing that it's really over, keeping some kind of valuation in place. We may be in a new era of equities, where the unfortunately under-informed masses are able to really move the needle on a lot of stocks, throwing all sorts of value-trading strategies out the window. In t…

GM was also taken in. Either GM corporate is insanely inept or the scam was at least somewhat credible. I am not judging the retail investors too harshly on this as credible organizations gave it a thumbs up too.
Post reply on HN