There is a saying that'business and morale is a blank sheet of paper'.
In this context, there is also a saying that'businessmen walk around prison fences'.
It is'success is business and failure is fraud'.
Hindenburg Research, an American short-selling firm that makes a profit by selling stocks in a company with a bubble in its stock price, reported on the 10th, ``Nicola: How did you partner with the largest automaker in the United States with a huge lie?'' (Nikola: How To parlay an ocean of lies into a partnership with the largest auto OEM in America), the hydrogen electric vehicle company Nikola argues that it is not a lie, but a lie.
You can have a rosy outlook with a groundbreaking idea, but Nicolas' argument is not an optimistic argument, but a'lie' to say that there is nothing.
Hindenberg said that GM, a major American automobile company with a history of 100 years, received 11% (47,698,545 shares) of Nikola Motors for $2 billion ($41.93 per share) on September 3, and decided to participate in the production of Nikola's hydrogen electric vehicle. It was analyzed that it was to make up for the desperate situation that was completely behind Tesla in the electric car market.
The deal between GM and Nikola was promised a number of other privileges, such as receiving $700 million for supplying electric vehicles to Nikola, and 80% of greenhouse gas emissions from the US government in exchange for producing eco-friendly vehicles. It was an incredible business, Hindenberg argued.
In particular, GM could sell Nikola's stock before it even produced its first electric car, so it was a'sexy electric car deal' that received a call option for virtually free.
But, Hindenberg claims, Nikola, who paid for the name GM had built up and chose to be a strategic partner, had no technology or patent.
Hindenberg argued that the video of Nikola One, a 1,000-horsepower hydrogen electric car, released in December 2016 by Nikola's founder Trevor Milton, was a fake video that was pushed and rolled after dragging a shell car onto a sloped hill.
Nikola's side said that after the first video release in 2016, the Nikola One continued to be upgraded and completed soon in 2018, but there was an insider testimony that there was no follow-up work since the first release of Nikola One, Hindenberg said.
In November 2019, groundbreaking battery development with ZapGo, production of 1,000 kilograms of hydrogen in December 2019, reduction of hydrogen production cost of 16 dollars per kilogram to 4 dollars in July 2020, expansion of 8 hydrogen charging networks, Five Nikola Tre trucks produced at German factories, unveiled new NZT off-road cars…
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Hindenberg argued that all of these contents that Nikola Motors had announced so far were false.
On September 15, Hindenberg said, "Nicolas did not respond to 43 of the 53 items they inquired. The responses also acknowledged their arguments or raised new questions. Nikola "The answer was to implicitly admit'securities fraud'."
For example, Nicolas said, ``In 2016, when announcing a video of Nikola One going down a hill, I have never said that the car is powered by its own engine,'' but ``founder Trevor Milton repeatedly said that the Nikola One was honed with the power of 1,000 horsepower. Photos of the hills also go up,' Hindenberg said.
Nikola, through a merger with Special Purpose Acquisition Company (SPAC), went back to listing on Nasdaq in June, and the stock price rose to $93.99 during the day, surpassing the market cap of US automaker Ford.
Trevor Milton, the 39-year-old founder of Nicolas, suddenly resigned on September 20 after Hindenberg's suspicion initiated an investigation by the US Securities and Exchange Commission (SEC) and the Justice Department.
When Trevor resigned, he forfeited 4.9 million Nikola shares and $20 million in two-year advisory fees, but still holds 91.6 million Nikola shares.
Nikola's stock price, with 360 million listed stocks, has now fallen to $19.99, but founder Trevor Milton owns more than $180 million of Nikola's worth of over 2 trillion won in Nikola.
For some stocks, CNBC reported that they have the option to sell them within six months.
CNBC reported that Nicolas hit three speculative trading areas, including specs, electric vehicles, and Robin Hood, an individual investor called Seohak ants in Korea.
The US media warns against the phenomenon of individual investors recklessly jumping into stock investments, saying, "'Dumb money' is producing the biggest lie ever."
"Everyone hates the average and thinks it can go beyond the market average," said Larry Swedroe, chief researcher at Bucking Wealth Partners in the United States. Individual investors cannot outperform institutional investors in terms of information or investment technology When buying stocks, you also have to think about who is selling them: 92% of large funds listed on the US market outperform the index growth rate It's low. Avoid personal stock investment, but if you can, do it for fun and minimize your risk exposure.
Even after the resignation of Nicolas founder Trevor Milton, Hindenberg ``retains a sell-off opinion on Nikola.
Nikola has no patents and no revenue stream.
Core assets of Nicolas, they are just the founder with the talent attracting money lying and bluffing, ' "he castigated said.
Germany, No. 2 bank co-Mer market capitalization big than the Massachusetts Bank, well swinger pin tekkeu companies Wire Card shorting forces accounting fraud allegations raised went bankrupt, turning out to be true. findings 1.9 billion will have been found accounting irregularities of the Euro scale. the count is a positive effect of short sales forces to bet on falling stock prices appeared.
of ceiling domestic biotechnology companies towering Giro value Looking at the stock price, we cannot doubt whether there is no'Korea's Nikola' in the domestic stock market. It's time to think again if there is no need.