5 ms·
This company was an obvious scam from the beginning...the EV hype brought on by Tesla swept up so many naive people. Some of my family invested in this stock an
by typon 5y ago
This company was an obvious scam from the beginning...the EV hype brought on by Tesla swept up so many naive people. Some of my family invested in this stock and lost a lot of money.
- lesuorac 5y agoIt looks like share price was ~10$ at the start (2018 to 2020) and is currently ~13$ so presumable your family could cash out right now for a 30% profit.
- vitaliyf 5y ago$10 was the SPAC before they merged to become NKLA. The merger was announced in March 2020 (when the price jumped to low teens) and completed in June (when the hype made it go up to $60s).
- dawnerd 5y agoI invested too, doesn’t mean it was necessarily a bad investment. You gotta take risks if you want to get in early on potential huge gains. Luckily I didn’t put too much in. Let that be a lesson to anyone, don’t invest into speculative companies unless you’re willing to lose it all.
- engineer_22 5y agodon't conflate investment and speculation
- dawnerd 5y agoIt’s all the same. Investment firms all the time throwing money at speculation. It’s all about what your risk tolerance is.
- squarefoot 5y agoThe company name alone should have been a hint that they were building on Tesla's hype. https://en.wikipedia.org/wiki/Nikola_Tesla https://en.wikipedia.org/wiki/Nikola_Tesla
- bluetwo 5y agoExactly. First rule is making a fraud is to associate it with something credible.
- ajross 5y agoI think that's very much a hindsight kind of thing. I mean, yes, Nikola was a scam. But in "the beginning" the only people willing to say that it was a scam were ones who sounded exactly like the much louder, better funded, and media-accessible people screaming that Tesla was a scam. This very site was filled with $TSLAQ nonsense. And it was all wrong, much of it deliberately so. The investment world is drowning in deliberate misinformation. There's no path for reasoned criticism to break through. Pick any stock and there's someone willing to tell you it's a scam. Or a gem. Edit: and this subthread is a perfect, shining example. Just look at all the people jumping in to perpetuate and argument that somehow Tesla is, I guess, comparably fraudulent to Nikola, a company that got caught faking a vehicle that didn't exist. No one trusts you people, because you sound the same for everything.
- hef19898 5y agoIn all fairness there was a non-zero chance of Tesla running out of money at one point. At the final word on Tesla being worth what it is hasn't been spoken neither. I do have to give Musk credit for being able to maintain Tesla the way he does, under everyone else the company wouldn't exist anymore. Not that I think Tesla is particularly well run so, but Elon's ability to entertain the market and keep money flowing is impressive.
- Aperocky 5y agoThe ability to run pump and dumps in crypto with impunity definitely helps.
- nickik 5y agoNo it doesn't. Stop claiming this nonsense. It is totally irrelevant for Tesla financials.
- heavyset_go 5y agoTesla's Q1 operating profit of $594M was slightly less than the sum of their $101M Bitcoin profit and the $518M regulatory credits they received.