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<blockquote data-quote="Weather Man" data-source="post: 16490015" data-attributes="member: 137766"><p><span style="font-size: 22px"><strong>Nikola's partners are called the key for the road ahead</strong></span></p><p>Sep. 15, 2020 10:38 AM ET|About: <a href="https://seekingalpha.com/symbol/NKLA" target="_blank">Nikola Corporation (NKLA)</a>|By: <a href="https://seekingalpha.com/author/sa-editor-clark-schultz" target="_blank">Clark Schultz</a>, SA News Editor </p><p></p><p></p><p><em>The Wall Street Journal</em> takes its turn at <a href="https://www.wsj.com/articles/nikola-is-only-as-strong-as-its-tech-partnerships-11600176764" target="_blank">dissecting</a> the Nikola (<a href="https://seekingalpha.com/symbol/NKLA" target="_blank">NKLA</a> -6.9%) vs. Hindenburg battle.</p><p></p><p>"Hindenburg’s 67-page report argued that the company is an 'intricate fraud' If this allegation is true, it wouldn’t seem to be accounting fraud in the style of this year’s Wirecard debacle, but rather securities fraud, in which investors lose money based on false information," writes WSJ's Stephen Wilmot.</p><p></p><p>He notes that while Nikola will have a problem if it is found to have misled investors in some way, it will have an even bigger problem if technology suppliers decide they too have been misled. So far, so good on that front. Wilmot says General Motors reiterated its confidence in Nikola after the Hindenburg allegations, but investors need to watch carefully for any hints that partners are quietly backing away. Without them, Nikola would amount to little, according to Wilmot.</p><p></p><p>GM CEO Mary Barra was nothing but positive yesterday during her talk at the RBC Capital Markets Global Industrials Virtual Conference.</p></blockquote><p></p>
[QUOTE="Weather Man, post: 16490015, member: 137766"] [size=6][b]Nikola's partners are called the key for the road ahead[/b][/size] Sep. 15, 2020 10:38 AM ET|About: [URL='https://seekingalpha.com/symbol/NKLA']Nikola Corporation (NKLA)[/URL]|By: [URL='https://seekingalpha.com/author/sa-editor-clark-schultz']Clark Schultz[/URL], SA News Editor [i]The Wall Street Journal[/i] takes its turn at [URL='https://www.wsj.com/articles/nikola-is-only-as-strong-as-its-tech-partnerships-11600176764']dissecting[/URL] the Nikola ([URL='https://seekingalpha.com/symbol/NKLA']NKLA[/URL] -6.9%) vs. Hindenburg battle. "Hindenburg’s 67-page report argued that the company is an 'intricate fraud' If this allegation is true, it wouldn’t seem to be accounting fraud in the style of this year’s Wirecard debacle, but rather securities fraud, in which investors lose money based on false information," writes WSJ's Stephen Wilmot. He notes that while Nikola will have a problem if it is found to have misled investors in some way, it will have an even bigger problem if technology suppliers decide they too have been misled. So far, so good on that front. Wilmot says General Motors reiterated its confidence in Nikola after the Hindenburg allegations, but investors need to watch carefully for any hints that partners are quietly backing away. Without them, Nikola would amount to little, according to Wilmot. GM CEO Mary Barra was nothing but positive yesterday during her talk at the RBC Capital Markets Global Industrials Virtual Conference. [/QUOTE]
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