Thursday , November 26 2020
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Nikola is nuts, when’s the crash?

Remember Nikola?In early September, while we were all enjoying the final dregs of lockdown-free sunshine, it came to light that the fledgling hydrogen-powered truck company might not be quite all it seems.Following a quite frankly hilarious short report in which the author, Hindenberg Research, claimed that Nikola had overstated its technology, overpaid insiders and — most memorably — rolled a truck down a hill to prove its vehicles worked as part of a marketing campaign, everything unravelled.The stock got slashed in half, founder Trevor Milton departed, and the US Department of Justice subpoenaed both the company and Mr Milton. After touching a market capitalisation of bn in midsummer, Nikola was worth just under bn by September’s end.With no revenues bar those

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Remember Nikola?

In early September, while we were all enjoying the...

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