The share of Nikola in a total-market index fund was so tiny as to be negligble. If one person invested $100K in a total market fund, and another put together t

The share of Nikola in a total-market index fund was so tiny as to be negligble. If one person invested $100K in a total market fund, and another put together thier own "total market minus nikola" fund, even with zero trading fees, the latter might be up maybe $10 or so over the former. After fees and slippage, they're almost certainly behind.