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SEC is nowhere to be seen. What I'm interested in is to see who actually bought into this scam? Is there a list of all the (smart money...cough) hedge funds, r

SEC is nowhere to be seen. What I'm interested in is to see who actually bought into this scam? Is there a list of all the (smart money...cough) hedge funds, retirement funds and others who invested significantly in this scam? A clown basically masquerading as a visionary founder/tech with everything outsourced to other companies is literally walking away with billions by scamming the so-called "smart money".

austinkhale 6y ago
Nowhere to be seen? Wasn’t it their investigation being opened that forced him out?
jjulius 6y ago
>SEC is nowhere to be seen. Really? >The U.S. Securities and Exchange Commission is examining Nikola Corp. to assess the merits of a short-seller’s allegations that the electric-truck maker deceived investors about its business prospects, according to people familiar with the matter. https://www.bloomberg.com/news/articles/2020-09-14/sec-said-to-examine-nikola-over-short-seller-s-fraud-allegations https://www.bloomberg.com/news/articles/2020-09-14/sec-said-...
bitxbit 6y ago
To be honest, SEC has not been doing its job for the past four years since this admin took control.
- pas 6y ago
  Not that it did much before that, since it lacked funding. Just like the IRS, CFTC, and FinCEN. And it lacked funding mostly because regulatory capture / special interest groups successfully lobbied to keep them "simple", to keep costs down. Of course keeping them simple sounds great but they are all very much in need of reforms, serious investment to modernize and to catch up with the market, which became very complex.
swarnie_ 6y ago
> What I'm interested in is to see who actually bought into this scam? /r/wallstreetbets - As usual some big winners and big losers on both sides on the way up and the way down. Its not quite "Pin the suicide hotline to the top of the sub" levels yet (bitcoin 2017) but there are some people losing their shirts over this.
- Loughla 6y ago
  So last week there were posts about how major players were scraping wsb for data to aid in their trades? Is that accurate? If so, it just ASTOUNDS me. I love that sub, even though I absolutely do not invest. It's like a daytime tv drama, except the characters are even dumber sometimes.
  - swarnie_ 6y ago
    > So last week there were posts about how major players were scraping wsb for data to aid in their trades? Are you sure this wasn't a parody article? I recall something similar but it made a reference to your wifes boyfriend in the final paragraph which gave the game away.

austinkhale 6y ago

Nowhere to be seen? Wasn’t it their investigation being opened that forced him out?

jjulius 6y ago

>SEC is nowhere to be seen. Really? >The U.S. Securities and Exchange Commission is examining Nikola Corp. to assess the merits of a short-seller’s allegations that the electric-truck maker deceived investors about its business prospects, according to people familiar with the matter. https://www.bloomberg.com/news/articles/2020-09-14/sec-said-to-examine-nikola-over-short-seller-s-fraud-allegations https://www.bloomberg.com/news/articles/2020-09-14/sec-said-...

bitxbit 6y ago

To be honest, SEC has not been doing its job for the past four years since this admin took control.

pas 6y ago
Not that it did much before that, since it lacked funding. Just like the IRS, CFTC, and FinCEN. And it lacked funding mostly because regulatory capture / special interest groups successfully lobbied to keep them "simple", to keep costs down. Of course keeping them simple sounds great but they are all very much in need of reforms, serious investment to modernize and to catch up with the market, which became very complex.

swarnie_ 6y ago

> What I'm interested in is to see who actually bought into this scam? /r/wallstreetbets - As usual some big winners and big losers on both sides on the way up and the way down. Its not quite "Pin the suicide hotline to the top of the sub" levels yet (bitcoin 2017) but there are some people losing their shirts over this.

Loughla 6y ago
So last week there were posts about how major players were scraping wsb for data to aid in their trades? Is that accurate? If so, it just ASTOUNDS me. I love that sub, even though I absolutely do not invest. It's like a daytime tv drama, except the characters are even dumber sometimes.
- swarnie_ 6y ago
  > So last week there were posts about how major players were scraping wsb for data to aid in their trades? Are you sure this wasn't a parody article? I recall something similar but it made a reference to your wifes boyfriend in the final paragraph which gave the game away.