Nikola (NKLA) Bulls Get Their Face Ripped Off…Again


Nikola NKLA has had a bad week, with shares tumbling over 30% since Friday close. Today the shares plummeted over 20% following news of halted talks with key hydrogen-refueling station partners.

Nikola’s former CEO, Trevor Milton, stepped down Sunday in the wake of securities fraud allegations. This move to step down only strengthens Hindenburg Research’s position that Nikola misled investors

Now relationships with critical partners like BP BP are on the line, relationships that, if dissolved, could spell certain death for this “Tesla wannabe.” TSLA

I had been very apprehensive about NLKA shares when they surged past Ford’s valuation. A company that hasn’t sold a single car being more valuable than a 117-year-old automotive giant.

The valuations looked stretched out of the gates with FOMO ridden retail investors driving the bid. The most recent developments deepen my apprehension about any position on these shares.

5 Stocks Set to Double

Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.

Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.

Today, See These 5 Potential Home Runs >>

Click to get this free report

BP p.l.c. (BP): Free Stock Analysis Report

Tesla, Inc. (TSLA): Free Stock Analysis Report

Nikola Corporation (NKLA): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



Source link

Recent articles

Grunts, Screams and Wails – PlayStation.Blog

For me, the most iconic element of Demon’s Souls is the way the title utilizes sound and music. Music is used sparingly, and...

WordPress Patches 3-Year-Old High-Severity RCE Bug

In all, WordPress patched 10 security bugs as part of the release of version 5.5.2 of its web publishing software. Source link

Exploring The Comic Book Origins Of Marvel’s Spider-Man: Miles Morales

With the imminent release of Marvel's Spider-Man: Miles Morales, the Game Informer crew sat down with Bill Rosemann, Marvel Games' Vice President &...

NEWS! ABC Has Released Their Full Holiday Lineup

The holiday season is right around the corner! Deadline has reported ABC’s full lineup of special television events, starting on Thanksgiving Day! ©ABC Part of...

Undecided Voters Tend to Disapprove of Trump

John Holland, 74, is proud to call himself a political independent, and he has always made a point of voting for the candidate...

Crisis helped engine OEMs clear modification backlog | News

The air transport crisis has helped engine makers Pratt & Whitney and Rolls-Royce to catch up with modifications to resolve in-service issues with...

Leave a reply

Please enter your comment!
Please enter your name here