It has been a wild ride in 2020 for electric heavy-truck maker Nikola (NKLA). Even after the recent heavy pullback, shares are still up this year by a towering 290%. With no working prototype, no revenue, and seemingly sentiment driven stratospheric gains, how can you measure Nikola’s value? This is an issue RBC’s Joseph Spak grappled when initiating coverage on NKLA. “As meaningful revenue/EBITDA/CF are further out, NKLA is difficult to value and can remain a story stock untethered to trad’l valuation/fundamental metrics. We’re intrigued by biz model prospect but remain on the sidelines given unproven biz model and significant …read more
Source:: Yahoo Finance
