Quote:
Originally Posted by FakeNameChanged
The market just loves frauds(NOT). You have to wonder about GM's management team hitching their wagon to the "clown rodeo" known as Nikola. That was a quote from Timothy O'Brien at Bloomberg.
Mary Barra when asked about doing their due diligence on Nikola, said they did "appropriate diligence", I guess that's CEO talk for half-assed diligence. This is a frkn joke for a top exec to make this call. I'll eat my words when their first semi's are rolling off the production lines in big numbers; and the hydrogen infra-structure is set up to fuel them.
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A fairly astute analyst on CNBC made the statement yesterday, that if GM was and is still so enamored with NKLA's hydrogen battery semi, why not just buy the whole damn thing. GM said they're not backing out of their $2 Bil investment, of which half has evaporated already. Market cap yday after going up 14% is $7.6 billion. While the 8 day trend line has crossed below the 250 day exp. average, it has the look of a bottom, barring more bad news. If you're on the GM board, you have to assume that it wasn't all smoke and mirrors. Hopefully Mary Barra isn't too proud to bail if that's the case.
http://schrts.co/PHpWxIFy
