What’s up everyone. Just wanted to bring up some attention towards one of the most intriguing stocks I’ve watched for some time: NKLA. How this stock has managed to not be delisted by now is quite surprising given that they have never sold one of their trucks, and been tied up in a fraud lawsuit (rumor is currently that the video of their truck “rolling down the hill” will be displayed in court soon). Of course that lawsuit has been a ton of free publicity for them whether good or bad.
Recently news was released saying the company wanted to sell up to $400 million in stock in order to raise money due to increasing labor and supply costs for upcoming products.
It was also reported on 08/25 that former CEO Trevor Milton (who is currently tied up in court) increased his position in the company.
It has been making some decent upwards movement since 09/07 with volume being slightly more than average pushing price from $5 to it’s current trading price of $5.42.
This past week there was an unusually large amount of volume on $6 calls for 09/16 and 09/13 expiry. Current share price is only $0.09 away from short’s average price. Current SI is around 30% of float.
This might be one to keep on your radar for some decent movement upwards next week. Currently not holding any positions. Please do your own research.