Further Exploration, Halting Impulsivity - Reveals $NKLA fraudWhile Nikola was all the rage following its 600%+ daily increase a bit ago, halting on pulling that buy trigger was prudent (Though I did not). The Nikola website is impressive in design: It even features the vehicles that are NOWHERE NEAR being produced. It looks "Sweet" really. Then: Take a look at the HIRING section. This company has existed since 2015, and so many key positions are utterly vacant. After five years, it went public in March, still nascent, still nowhere close to being a viable automobile manufacturer (OR, any threat at all! to $TSLA itself).
Many were quick to think "Next Tesla!" but a simple look at the fact this company is so incomplete, so fractured and forming (hopefully for those hanging onto it)...reveals that massive gain to be very, utterly and totally, FRAUDULENT.
This is a stock not only am I happy to have rid myself of, but also one that I will not re-enter, no matter how LOW it dips (I say this unequivocally even!)...
FOMO hit many of us, and many have bailed, taken that rather substantial loss, and moved forward. The excitement around electric vehicles and lithium-ion battery tech is enormous, but as some would simply say colloquially, "THIS AIN'T IT." Sell, dump, and run. This company is nothing close to the hype-monster it was generated to be, and Hype is funny: It builds, and builds, then explodes. The deeper look at this company's lack of development over five years is exactly why. But in the moment, many of us trusted the notion of the "NEXT TESLA."
Live & Learn, my friends!
-BDR
