Will NKLA Investors Be Fooled Twice?
NKLA stock is currently focused on surviving, not thriving. Can their $350,000 hydrogen fuel cell semi-trucks propel them to profitability? We don't think so. Nikola has a gross margin problem, where every truck costs significantly more to produce than it sells for. Some of these problems improve as the business scales, but how can the business scale when it's already burning way more cash each year than it has on the balance sheet? And let's not forget the founder of the company was convicted of fraud. That's a showstopper for us. We have several concerns around Nikola, but we're going to be…
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