Nikola direct listed their stock so they faced no scrutiny. It opened at $10 and then went up to almost $80 due in part to massive FOMO-inducing posts on Tikok

Nikola direct listed their stock so they faced no scrutiny. It opened at $10 and then went up to almost $80 due in part to massive FOMO-inducing posts on Tikok and WallStBets. If the founder doesn't have the self-awareness not to say non-sensical quotes like that knowing he will be fact-checked, it's a bit concerning. I don't understand how GE invested and didn't find anything in Due Diligence. They really couldn't see the Robinhood effect? Is FOMO that fervent in the space thanks to Tesla? Reminds me a lot of the crazy multiples RX Bar, Dollar Shave, and Native Deodorant got as all the incumbents got freaked out about losing fractional market share to "digitally native" brands.