The market speaks: Nikola stock down 80% since all-time high
Nikola vs. Tesla: A tale of two volatile tech stocks
Nikola and Tesla do share a certain bond, beyond the name
Considering the seriousness of the allegations levied against Milton, it’s not exactly fair to compare Tesla, a considerably tangible brand, to Nikola, which is still working with prototypes.
However, the two stocks do share a common mission leading into 2021: prove they’ve grown into their new market values. For Tesla, it’s mostly a matter of making good on its promise to eventually sell a $25,000 EV.
But Nikola must now rely on the size and scope of its deal with GM, as well the strength of its management post-Milton. It also isn’t exactly clear towhat extentthe Milton scandal will affect Nikola’s overall brand.
To make matters worse, Wall Street isn’t exactly convinced Nikola can do it.According to Barron’s, Wedbush’s Dan Ives announced his bearish outlook on Nikola stock this morning, the first industry analyst to label it a “sell.” Ouch.
Story byDavid Canellis
David is a tech journalist who loves old-school adventure games, techno and the Beastie Boys. He’s currently on the finance beat.David is a tech journalist who loves old-school adventure games, techno and the Beastie Boys. He’s currently on the finance beat.
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