Not a good look for the Nikola Company and its shareholders (if there are any left) after they just received their first Sell rating from wallstreet by Barrons with a price target of $15.00. $NKLA is down over 80% from it's June ATH less than just 100 days ago.
The sell off began just after Nikola's deal with GM, when it was pointed out that Nikola's founder Trevor Milton wasn't telling the truth at a 2016 event when he said that the Nikola One truck on the stage "fully functions." Nikola now says the truck never worked. It was just a promotional video of the truck. In the video the truck looks like it was functioning but was in reality rolling down a hill. You can see why shareholders aren't pleased with this. Now Nikola argues that this was old news and irrelevant because Nikola is no longer marketing the Nikola One and is now marketing a working prototype of the Nikola Two. So we never even got to see a real fully functioning Nikola 1, but don't worry, that's not important because we're now focusing on the Nikola 2. While I am rooting for them (always for technological advancement), this wasn't the founders brightest moment, and he has now stepped down.
Along with the working on the Nikola 2, the company is now struggling to find partners to build a planned network of hydrogen fueling stations across the country. They were previously in talks with BP for these and with help on logistics but these are now rumored to be on hold. We're waiting to see if these deals are made and for the stock sell off to finish before buying in on this one.
TA:
Target $15.00-16.00 area if can find support is the area we're looking at but don't try to catch a falling knife just yet. Wait for support.
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Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
Feel free to give us a follow and shoot us a like for more analysis updates.
The sell off began just after Nikola's deal with GM, when it was pointed out that Nikola's founder Trevor Milton wasn't telling the truth at a 2016 event when he said that the Nikola One truck on the stage "fully functions." Nikola now says the truck never worked. It was just a promotional video of the truck. In the video the truck looks like it was functioning but was in reality rolling down a hill. You can see why shareholders aren't pleased with this. Now Nikola argues that this was old news and irrelevant because Nikola is no longer marketing the Nikola One and is now marketing a working prototype of the Nikola Two. So we never even got to see a real fully functioning Nikola 1, but don't worry, that's not important because we're now focusing on the Nikola 2. While I am rooting for them (always for technological advancement), this wasn't the founders brightest moment, and he has now stepped down.
Along with the working on the Nikola 2, the company is now struggling to find partners to build a planned network of hydrogen fueling stations across the country. They were previously in talks with BP for these and with help on logistics but these are now rumored to be on hold. We're waiting to see if these deals are made and for the stock sell off to finish before buying in on this one.
TA:
Target $15.00-16.00 area if can find support is the area we're looking at but don't try to catch a falling knife just yet. Wait for support.
Feel free to give us a follow and shoot us a like for more analysis updates.
Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
Feel free to give us a follow and shoot us a like for more analysis updates.
Comment:
There you have it. A +40% return in 2 weeks if you sell now. This was just a TA play, not fundamental. Goal here was to make a nice quick return with a big upside and did just that. Stop losses on. Everything else is just house money.