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A comment on DOJ Probes EV Startup Nikola over Claims It Misled Investors. Parent comment

Re:DOJ Probes EV Startup Nikola over Claims It Misled Investors by DobryMorozov on Tuesday September 15, 2020 @04:39PM (#24486450)
Trevor Milton also bought 14,000 shares today by pledging the shares he currently owns as collateral and borrowing money. I think that this is the beginning of the end.
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Re:DOJ Probes EV Startup Nikola over Claims It Misled Investors by samizdis on Tuesday September 15, 2020 @06:14PM (#24487355)
It rather seems that the beginning of the end was the desperate so-called "deal" done with GM. It's nicely, or brutally, summed up in a Seeking Alpha article [1]:

The deal shows Nikola doesn’t have any technology of its own, be it battery technology or fuel cell technology.

The deal also shows that Nikola is willing to forego any possibility of an economic return, just to further the story and pump the stock.

Arstechnica also has a piece [2] today about the deal.

[1] https://seekingalpha.com/article/4374438-gm-and-nikola-fine-...

[2] https://arstechnica.com/cars/2020/09/why-gm-is-sticking-with...

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