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Hindenburg Research was right then. https://hindenburgresearch.com/nikola/ https://hindenburgresearch.com/nikola/

• teej 5y ago
  They stake a lot of money on being right.
• danans 5y ago
  "2018: In Order to Continue the Appearance of Progress, Nikola Posted a YouTube Video of Its Nikola One “In Motion” on the Road. Text Messages from a Former Employee Reveal the Truck Was Simply Filmed Rolling Down a Big Hill." Also see their research on Lordstown Motors. They seem to have discovered a major fraud niche in upstart EV makers.
• shoo 5y ago
  tangent: For Hindenburg Research's business model, it doesn't suffice for them to accurately detect that a company is fraud. Hindenburg also needs to get the timing of their trades right, and find a way to communicate the message that results in market demand for the stock dropping. e.g. the kind of horror story where you enter into a short position on a stock that you believe is a fraud or otherwise wildly overvalued by the market (and you're right) and the market price climbs 10x over two years, so you exit to take a huge loss, then maybe 1-3 years later the market catches up and decides the company is a failure. You were "right", but so what? Maybe another way to look at this is that there are probably a lot of other frauds or other overvalued companies out there, but the current market conditions don't make them viable targets for short sellers, so maybe no one is going to try very hard to out them.
• busymom0 5y ago
  The fact that the hedge fun researching this Hydrogen powered company is named "Hindenburg" is hilarious.
  • shoo 5y ago
    nikola's demonstration truck prototype was "powered" by gravitational potential energy, not by hydrogen.