We had noted the rather odd way it was going to become public in March 10's "Hydrogen: "WeWork Crisis Prompted Nikola's Pivot On Going Public".
Been watching the reverse merger into VectoIQ (VTIQ). Because nothing is done til it's done didn't post much on the SPAC.
VTIQ closed on Wednesday at $33.97, the merger was finally consummated and on Thursday it gapped up a bit on the open, $37.55, traded down to $31.25 and closed at $33.75.
Friday, it closed at $35.97. Cool. Plenty of time to put a post together for loyal and long suffering reader for Sunday evening publication.
And I didn't pull the trigger.
The stock closed today at $73.27 up $37.30 (+103.70%)
And afterhours NKLA settled at $89.01 up another $15.74.
It would have been a good post.
Yahoo Finance did an interview with founder Trevor Milton:
"Nikola is like Amazon and could be worth a $100 billion someday: founder"
The market likes what it sees in electric and hydrogen powered automaker Nikola, at least in day one of being publicly traded.
That brings you back. July 24, 2010, five days before the Tesla IPO:Shares of Nikola debuted on the Nasdaq Thursday under the ticker symbol ‘NKLA’. The stock popped about 7% in early trading action. Nikola didn’t undergo a traditional IPO process. Rather it merged with a special purpose vehicle called VectoIQ Acquisition Corp.Prior to its debut on the Nasdaq, the company — founded by serial entrepreneur Trevor Milton — was valued around $3.3 billion after several funding rounds by prominent names such as ValueAct, Bosch and Wabco.Milton isn’t shy on the potential for his company to change a trucking industry still reliant on fossil fuels. And if he could pull it off over the next decade, early big-name investors like Jeff Ubben at ValueAct have suggested Nikola may be worth at least $100 billion.“How you get there is because we vertically integrated the entire supply chain. It’s very similar to Amazon,” Milton explained on Yahoo Finance’s The First Trade on why the business could be worth $100 billion. Nikola’s model is interesting to say the very least. It partners closely with truck manufacturers and essentially gets paid for its R&D prowess on battery technology and design. Nikola then leases its eye-catching semis — and the service — to companies....MORE
"Tesla CEO to investors: We're like Google or Apple" (TSLA; AAPL; GOOG)
On July 6, 2010 the story was ""Tesla Shares Fall Below IPO Price of $17 in New York Trading" (CEO no longer saying "We're Like Google or Apple") TSLA"
Two days later it got back above the IPO price "TESLA MOTORS INC: Now with Stock Options! (TSLA"
The stock is up $1.33 at $17.13,
[note to self re: NKLA]
Mr. Milton is certainly sure of himself:
"When
they see someone else beat @elonmusk
they hate that. There's very few people that can out-Elon in
this world and I'm one of them. Its kind of hard for his
followers to see someone who can actually build something bigger or more
competitive than what he has" –– Trevor Milton pic.twitter.com/nWAQf9PYJ7
—
Whole Mars (@WholeMarsBlog) June
2, 2020
And with some good reason. Previously:
October 2019
ICYMI: Following CNH Industrial's $250 Mil., Bosch And Hanwha Invest $230 Million In Nikola's Hydrogen-Electric Trucks
May 2018
Watch Out Elon: Nikola Is Offering More Than Just Trucks (TSLA; NEL:Oslo)
May 2018
Watch Out Elon: "Anheuser-Busch just bought 800 fuel cell Nikola trucks" (TSLA; NEL:Oslo)
More tomorrow but for now:
You Trusted Me and I Failed You
Regret the error.
