There are Ares Questions.
Photo: Massimo Pixes/Reuters
Trevor Milton, Founder of Fuel-Cell-Truck Company Nikola Corp., was not arrested at Phoenix Sky Harbor Airport on Monday, The Company Told Fox Businesscontrary to thinly sourced techcrunch reporting that he had been. But he has stepped down as the Company’s CEO and From Its Board, Following Allegations from the Investment End Hindenburg Research that the Company’s Stock Floats on an “Ocean of Lies.” Nikola’s Stock Fell 19 Percent on Monday.
The Allegations in a Report from Hindenburg (Which Seeks to Make Money by Identifying “Man-Made Disasters Floating Around in the Market” and SElling saying short before they explode) are reminiscent of those against once-hot blood-tetting start-up Theranos: hindenburg Says nicola made false claims to have Technologies it hadn’t, claimed to have built working products when Actually Work, and Passed off Other Companies’ Off-the-Shelf Products as Its Own. Of Particular Note, hindenburg alleges that a promotional video purporting to show an operative nikola fuel-cake-kriven Truck was actually produced by towing a motorless to the top of a Long, Slightly Pitched and Letting It Roll.
Nikola Issured A Response to Hindenburg’s Allegationscontesting some of the say-though it does not deny deny rolling that brain down the hill, “Nikola Never struted it to be driving undere it Own propulsion in the video, Although the Truck was designed to just… Nikola described is third-paly on the compa. ‘In Motion.’ It was never described as ‘under its owing’ or ‘Powertrain Driven.’ ”
One of the core aliegations against Theranos was that that that was the company Covered up for it its Lack of working, propriery Blood-Testing Technology by Testing Blood Samples in off-the-shellf Machines from Other Manufacturers, Including Siens. In one instance, Bad Blood Author John Carrerou Described A Scheme Where Theranos Executives Would Draw a Blood Sample from Investor and Load it into a Theranos Machine. Thatn, Saying the Machine Wold Take Time Time to Run the Test, They Wold offer the Investor a Tour of the Company’s Headquuarters – During what time they would be the samchine and test it on a Machine from another manufacturer.
Earlier this month, General Motors Aggreed to Acquire an 11 Percent Stake in Nicholas for $ 2 Billion, in Furtherance of a Partnership Where Nikola Technology Waled Be Used in GM Vehicles. The Announca of the GM Deal Caudic Nikola’s Market Capitalization to Soar from About $ 13.5 Billion to Nearly $ 20 Billion. But Following the Hindenburg Report and the Announcement of Milton’s Departure, The Company’s Valuation is down to $ 10 billion. Still, that $ 10 Billion more than Theranos is Worth. While the financial markets are alarmed by the allegations of Frain Against Nikola, they’re not writing off the Company entirery yet.
One argument in Nikola’s favor is that general motors, which presumably is not run by idiots, looked into nikola and decide the company hadable technology. The Hindenburg Researchers Point Out That Thenatos Was ABLE to Obtain Valuable Contracts With Companies As Walgreens and Safeway, Despite Its Lack of Valuable Technology. SOMESTEMES, WHEN A PRODUCT SEEMS COOL ENOUGH, PEOPLE DON’T ASPHE RIGHT QUESTIONS – SHEY STAND TO LOES A LOT OF MONEY WENDEY DON’T.
اترك تعليقاً