Re:Nikola’s founder steps down from board as company faces f...
by admn2 on Monday September 21, 2020 @02:20PM
(#24546665)
Nikola direct listed their stock so they faced no scrutiny. It opened at $10 and then went up to almost $80 due in part to massive FOMO-inducing posts on Tikok and WallStBets.
If the founder doesn't have the self-awareness not to say non-sensical quotes like that knowing he will be fact-checked, it's a bit concerning.
I don't understand how GE invested and didn't find anything in Due Diligence. They really couldn't see the Robinhood effect? Is FOMO that fervent in the space thanks to Tesla? Reminds me a lot of the crazy multiples RX Bar, Dollar Shave, and Native Deodorant got as all the incumbents got freaked out about losing fractional market share to "digitally native" brands.
If the founder doesn't have the self-awareness not to say non-sensical quotes like that knowing he will be fact-checked, it's a bit concerning.
I don't understand how GE invested and didn't find anything in Due Diligence. They really couldn't see the Robinhood effect? Is FOMO that fervent in the space thanks to Tesla? Reminds me a lot of the crazy multiples RX Bar, Dollar Shave, and Native Deodorant got as all the incumbents got freaked out about losing fractional market share to "digitally native" brands.