nikola
Key Points Nikola’s stock surged over 100% in the past month but plummeted by 26% following the Q2 earnings report, wiping out significant gains.Uncertainty surrounds the stock’s future, with questions about whether this marks the end of the bull run or just a temporary pullback.The recent CEO change and the approval to issue new shares further add to the market’s unpredictability and impact on investor sentiment.5 stocks we like better than NikolaThe past month has been a rollercoaster ride for investors inNikola (NASDAQ:NKLA) as the electric vehicle manufacturer experienced a remarkable surg...
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Shares of electric truck maker Nikola Corp (NASDAQ:NKLA) rose as much as 4% by late Monday morning, initially falling about 4% in early-morning trades after the company announced an agreement to acquire battery pack supplier Romeo Power Inc (NYSE:RMO). The deal is worth $144 million and will give Nikola control over an essential part of its supply chain. Nikola Announces Deal To Buy Romeo PowerThe all-stock deal values Romeo at 74 cents per share, representing a 34% premium from the company’s closing price on Friday. Shares of the battery pack supplier surged in morning trades on Monday, climb...
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Nikola stock tumbled after CEO Mark Russell failed to convince investors that they would be able to finalize a deal with GM. He also failed to reassure them that founder and former chairman Trevor Milton wouldn’t start unloading his shares next week when the lockup on them ends. Milton is Nikola’s biggest single shareholder.Q3 2020 hedge fund letters, conferences and moreNikola deal with GM still up in the airCNBC reports that in an interview on Mad Money with Jim Cramer, Nikola's CEO said the talks for a $2 billion deal with GM were ongoing, but he wouldn't provide any other comments beyond t...
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Starboard Value has increased its stake in software company ACI Worldwide above the 13D reporting threshold for the first time, making it potentially the third company the activist has targeted this month, after CEO Jeff Smith took on Corteva and ON Semiconductor at a recent conference. Starboard had previously disclosed a 1.8% stake as part of its 13F quarterly portfolio disclosures but has spent the last two months adding to the position, according to Monday’s filing.Q3 2020 hedge fund letters, conferences and moreStarboard Targetting ACI Worldwide Due To An Undergoing A Leadership Transitio...
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Whitney Tilson’s email to investors discussing individual-investor boom reshapes U.S. stock market; Hertz’s unwarranted rise; Robinhood users say accounts were looted, no one to call; no, Robinhood traders aren’t affecting the stock market; coolest things I learned in 2019.Q3 2020 hedge fund letters, conferences and moreIndividual-Investor Boom Reshapes U.S. Stock Market1) I have mixed feelings about this: Individual-Investor Boom Reshapes U.S. Stock Market - The Wall Street Journal. Excerpt:It's one of the year's biggest market stories: Mom-and-pop investors have fallen back in love with stoc...
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Whitney Tilson’s email to investors discussing one of the year’s worst short bets, GSX Techedu Inc (NYSE:GSX), defies scathing reports and an SEC investigation; Nikola Corporation (NASDAQ:NKLA) races to convince investors of value before share lock-up ends; Loop Industries Inc (NASDAQ:LOOP): ‘Recycled’ smoke and mirrors show.Q3 2020 hedge fund letters, conferences and moreGSX Techedu Defies Scathing Reports And An SEC Investigation1) On Monday, the Wall Street Journal published an article about the tug-of-war between short-sellers and Chinese online education provider, GSX Techedu (GSX): One o...
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Whitney Tilson’s email to investors discussing SPAC Investment Summit tonight at 8 p.m.; what the recent Nikola drama means for SPACs; 28-year old billionaire wins the SPAC lottery; SPAC meme; short report on Workhorse Group Inc (NASDAQ:WKHS); Rothmans reopens; always make a great impression.Q2 2020 hedge fund letters, conferences and moreSPAC Investment Summit1) My colleague Enrique Abeyta's SPAC Investment Summit is tonight at 8 p.m. Eastern time. It's a can't-miss event, and it's free to attend. Just make sure you save a spot – you can do so with a single click right here.Yesterday, Enrique...
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One week after electric truck rendering fabricator, Nikola Motors, was found to be a completely fraudulent company who pushed cars down hills, electric truck visionaries at Hyliion Motors are set to finish a business combination via SPAC and offload equity to unsuspecting retail investors.Q2 2020 hedge fund letters, conferences and moreHyliion Motors: The First Non-Fraudulent Green Semi-Truck CompanyHyliion Motors is out to prove to the public equity markets that they are the first non-fraudulent green semi-truck to market in 2020. Hyliion’s aspiring mission statement to “reduce carbon intensi...
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Whitney Tilson’s email to investors discussing SPAC Investment Summit on October 8; General Motors extends talks on Nikola deal; Spruce Point short report on Sunnova Energy.Q2 2020 hedge fund letters, conferences and moreSPAC Investment Summit1) I'm going to be writing quite a bit in upcoming e-mails about special purpose acquisition companies ("SPACs").These "blank-check companies" are both an alternative way for private companies to go public, eschewing a traditional initial public offering ("IPO"). They also represent a new asset class, open to all investors, not just institutions or high-n...
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Whitney Tilson’s email to investors discussing the latest on Nikola, the stock is headed to zero; Big Ideas 2020.Q2 2020 hedge fund letters, conferences and moreThe Latest On Nikola2) All sorts of breaking news on electric-vehicle maker Nikola (NKLA)...From a friend:It's never a good sign when someone who is under criminal investigation by the Department of Justice ("DOJ") and under investigation by the U.S. Securities and Exchange Commission deletes his Twitter account – see: https://twitter.com/nikolatrevor.Does he think that nobody would notice or that the DOJ can't subpoena the account his...
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