Nikola unlike Apple has no track record of shipping anything.

But I do see your point about what they're doing (overhyping the future roadmap) being quite common. IMO the people comparing this to Theranos are wrong. Theranos sold a product to consumers that didn't have the capabilities it was advertised to have, whereas this is a transparently stupid company without a single product or customer except for the founder's self-dealing at his house. A lot of retail investors are gonna be hurt by this, but it's not clear to me that it's fraud