Will Nikola fulfill its doom prophecy of going below 10 bucks?
With so much happening against Nikola this year, some expected it to be already in the single digits, nevertheless the stock still trading around $35 bucks. However I think that after this coming December the speed in which the stock is falling could accelerate, as major stock holders will be able to sell at will its shares locked in contracts until then. So the first week of December should be revealing for Nikola, and I think it will move the stock to the bottom of this descending triangle, to retest the support, and eventually at some time in 2021, maybe deep below towards single digits.
The company is a total fiasco with no products to show but empty promises.
The company is a total fiasco with no products to show but empty promises.
Note
Now that the GM deal is gone, with the lawsuits pilling up, questions are being raised about Nikola's cash reserves, apparently they have less than 6 months in working capital.The last nail in the coffin is the realization that Nikola did not developed any useful Hydrogen or battery technology, nothing useful at least that GM wanted or could use... Unbelievable, Nikola is nothing but a name company, a total scam!
Fake technology, fake products, fake CEO, fake everything.
It is clear that Nikola will not only go in the single digits soon, but it is heading to become a penny stock!!!
I expect this company to be close to or below $1 before Q221.
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