NKLA is a hole shell of a firm at this point. The currently amended GM deal works extra admire a provider contract rather then a chronicle altering settlement.
The lockup expiration will likely allow Trevor Milton and new NKLA workers to dump stock onto the market.
With the brand new heat every Milton and the firm non-public bought from the media and the total market, I could maybe well be very a lot surprised if we don’t ogle an enormous selloff Tuesday.
Even with the now wretched valuation, the firm is serene worth a staggering ~$7.8 billion. Except you watched in a enterprise miracle from this administration crew (they in most cases enact happen infrequently), NKLA stays a excessive-likelihood trade. Lengthy-term, this firm is probably going pointless in the water.
Rating reiterated at Sell, PT of $3.50.