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Nikola's refutation says that "an activist short-seller whose motivation is to manipulate the market and profit from a manufactured decline in our stock price p
by nkurz 6y ago
Nikola's refutation says that "an activist short-seller whose motivation is to manipulate the market and profit from a manufactured decline in our stock price published a so-called “report” replete with misleading information and salacious accusations directed at our founder and executive chairman. To be clear, this was not a research report and it is not accurate. This was a hit job for short sale profit driven by greed."
It seems clear that they are right that the report is driven by "greed" and "short sale profit", and that the goal is drive down their stock price. The more important question, though, would seem to be whether the accusations are true. Are there any Nikola supporters here who can debunk any of the bullet points at the top of the Hindenburg report: https://hindenburgresearch.com/nikola/ https://hindenburgresearch.com/nikola/.
Conclusively refuting any of them would be useful, but the most important ones to me are the ones involving their demos. Did they lie to the public about the functionality of their vehicles at the time? Or did they merely mislead the public with language like "in motion" and "cruising" to describe a truck rolling down a natural incline? Does that distinction matter to you, or only as relates to potential SEC action?
(I'm currently holding some puts that I bought---slightly too late to be profitable yet---as a result of Hindenburg's report, making me effectively short NKLA)