Nikola Corp.: The first $1bn to be made only in 2023
Show Me the Money! 15 June, 2020, by Vladimir Rojankovski, Grand Capital Chief Analyst
Last week Nikola Corp (NKLA) made its debut on Nasdaq following a reverse merger with an umbrella company, an affiliate of a former CEO and board member of General Motors (GM). Although the company’s preorder book is ostensibly around to $10bn (ten billion dollars) and it expects to start making profits in 2021, until then it projects zero revenues in 2020 (twenty twenty), with the first $1bn to be made only in 2023.
By comparison, Ford Motor (F) is expected to report revenue of $115 billion for the year. Still, Nikola Corp, which more than doubled its shares on Monday, sold another 30% of the unplanned allotment after closing, catching up to almost $74, which gave the company almost half the market capitalization of the American legend and carmaker blue chip.
Last week Nikola Corp (NKLA) made its debut on Nasdaq following a reverse merger with an umbrella company, an affiliate of a former CEO and board member of General Motors (GM). Although the company’s preorder book is ostensibly around to $10bn (ten billion dollars) and it expects to start making profits in 2021, until then it projects zero revenues in 2020 (twenty twenty), with the first $1bn to be made only in 2023.
By comparison, Ford Motor (F) is expected to report revenue of $115 billion for the year. Still, Nikola Corp, which more than doubled its shares on Monday, sold another 30% of the unplanned allotment after closing, catching up to almost $74, which gave the company almost half the market capitalization of the American legend and carmaker blue chip.