3 ms·
"Publicly traded company" is technically true but misleading. VectoIQ was a special-purpose acquisition company [1] -- it had no employees and no revenue; its s
by duskwuff 6y ago
"Publicly traded company" is technically true but misleading. VectoIQ was a special-purpose acquisition company [1] -- it had no employees and no revenue; its sole purpose was to be used as a vehicle to take another company (like Nikola) public.
[1]: https://en.wikipedia.org/wiki/Special-purpose_acquisition_company https://en.wikipedia.org/wiki/Special-purpose_acquisition_co...
- gowld 6y agoThose should be called Special Corporations for Acquisitions and Mergers (SCAM). They only exist to sell to people who believe anti-fraud regulations are for losers and that real world markets should be more like EVE online.