How the “Next Great Electric Automaker” Ran Out of Gas

By Jody Chudley On June 16, I urged you to steer clear of electric heavy-duty truck maker Nikola Corp. (Nasdaq: NKLA).
Since then, Nikola’s stock price has struggled… to say the least.

In fact, in just over three months, Nikola’s share price is down more than 65%.
My reasoning for steering clear back in June was pretty simple. Nikola’s stock market valuation back then was based solely on hype and not on the fundamental prospects of the underlying business.
Here is what I said on June 16:
Investors buying shares of Nikola today at this lofty $30 billion-plus valuation get a company that generates exactly the following:

$0 in …read more