SHOCKER! Nikola Accused Of Being A FRAUD! Who Saw THAT Coming? Uh, We Did.

The sensational claims, made in a report by the hedge fund Hindenburg Research, come just two days after General Motors announced it would be investing $2 billion in the company.

In its lengthy report, Hindenburg claimed to have 'extensive evidence' that the company's proprietary technology was purchased from another company, and accused Nikola founder and CEO Trevor Milton of making countless false statements over the last decade. The company is accused of faking a promotional video for its truck, the Nikola One, in 2018.

The truck reportedly didn't have a functioning engine so instead it was rolled down a hill with the footage edited to make it appear as if it was driving on a flat road. 'Trevor has managed to parlay these false statements made over the course of a decade into a $20 billion public company,' Hindenburg wrote. 'He has inked partnerships with some of the top auto companies in the world, all desperate to catch up to Tesla and to harness the [Electric Vehicle wave].' Nikola's stock prices plummeted as much as 13 percent Thursday, hours after the report was released.
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ricks0me - 9/10/2020 8:07:49 PM

+3 Boost

"The truck reportedly didn't have a functioning engine so instead it was rolled down a hill with the footage edited to make it appear as if it was driving on a flat road."

Trevor Milton should be a politician. Please apply on either side of the aisle.

MDarringer - 9/10/2020 8:27:12 PM

-2 Boost

This is how the Democrats roll.

malba2367 - 9/11/2020 8:25:39 AM

+2 Boost

GM had to have done its due diligence and seen something of value...unless all they want is the brand name.

MDarringer - 9/11/2020 8:41:19 AM

0 Boost

Mary the token got blindsided by EVs, so scramble, scramble, scramble. She probably has the hots for Trevor Milton and loves him because he reminds her of her other charlatan lover Johan.

malba2367 - 9/11/2020 8:47:53 AM

+2 Boost

You can not honestly believe that GM, with all of its engineering and technical expertise, would not look into the technology Nikola has and see something worth $$. It may be true that they are nowhere near having the ability to build an entire vehicle but there must be some technology there that advances GMs EV program.

MDarringer - 9/11/2020 9:01:27 AM

0 Boost

The only reason GM would invest in an outside EV company would be to keep it from being a threat, but not to glean all sorts of goodness.

carloslassiter - 9/11/2020 12:09:57 PM

+2 Boost

Cool story.