Trade at your own risk my personel opinion and not trading or investing advice
First, not a bad quote, but there is no worse stock to apply it to. Rules of thumb are plenty and often oppose and sometimes contradict each other.
That is why if used, one must pick the right ones.
Here are some for the Nikola motors bulls :D:
"Price is what you pay. Value is what you get." - you get no value with Nikola
"Risk comes from not knowing what you're doing." - anyone buying Nikola clearly has No Idea what They are doing (unless you are speculating on the idea that market and news insanity will drive the price up again in the short term - but I think this is a terrible idea: very risky, low reward, high risk)
Everyone, please do yourself a favour - know what you are "investing" in. Hope no one here is invested into Nikola Motors, in which case have a nice day! If you are invested in Nikola have a nice day too, but it may be quite hard with what is up with your stock holdings.