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Far bigger frauds have happened. I'd argue Nikola's fraud was pretty minor in comparison to the likes of Madoff, Enron, or Theranos. At least the only victims
by Reason077 4y ago
Far bigger frauds have happened. I'd argue Nikola's fraud was pretty minor in comparison to the likes of Madoff, Enron, or Theranos.
At least the only victims here were investors - many of whom probably realised or suspected that Milton was exaggerating the company's progress, but were happy to play along as long as it kept pumping the value of their investments.
- skinnymuch 4y agoCheck Nikola spots like the subreddit, Twitter, Stocktwits. Lots of bag holders who are technically investors, but really just ordinary middle class people in deep losses from Nikola. Still nothing close to the examples you gave but Theranos is as blatantly a con from the get go as Nikola.
- Reason077 4y agoI think the difference with Theranos is that most of us were genuinely surprised and shocked when it all started to unravel to the extent that it did. With Nikola, there were plenty of skeptics right from the start. The only surprise what that it went on for as long as it did, and that the stock price kept going up even after much of their deception was exposed.