Electric vehicle stocks have recently been pulling back, but none more so than Nikola (NKLA). The electric/hydrogen-fueled truck maker had been the darling of the stock market in recent months. However, short selling attacks have sent the stock into a tailspin.
The CEO has stepped down and the company appears to be in turmoil. Options action doesn’t paint any brighter of a picture for NKLA, with January 2022 far out-of-the-money puts being purchased in what could be protection against the stock going to zero.
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The "problem" that Nikola has, or has, was representing that it had that which it did not really have. That does tend to bother those who have paid a lot to gain possession of what was represented as existing.
So this will be an interesting tale when the truth is revealed.
The "problem" that Nikola has, or has, was representing that it had that which it did not really have. That does tend to bother those who have paid a lot to gain possession of what was represented as existing.
So this will be an interesting tale when the truth is revealed.