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I recently covered how much Nikola Motors just doesn’t sit well with me personally… or my trading account.
Well, the company just did the unthinkable…
Last Tuesday it struck up a strategic partnership with none other than General Motors — and as part of the agreement, Nikola will use General Motors’ battery and technology in its vehicles.
In one day, shares of Nikola Motors shot up from $35 to over $52.
But three days later, they dropped right back down to $37…
The most concerning thing about this is the fact that Nikola’s CEO is now trying to defend his share price… (I won’t even go into detail how Nikola Motors have zero trucks produced and zero vehicles on the market.)
And that’s never a good look. As if that weren’t bad enough, the company then did this.