Nikola 1: The Rise and Fall of a Revolution

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Nikola has boasted about its huge order book spanning billions of dollars in pre-order sales. The company IPO'd this year to much fanfare and the stock price has rallied quite a bit since then. Big investors have dumped a lot of their holding on unsuspecting retail investors. So, does this mark the end of the road for the revolution in Nikola? Maybe not.

On September 10th, a forensic financial research company in the US — Hindenburg Research released a report calling into question some of the lofty claims made by the billion-dollar EV upstart — Nikola.

So in today’s special edition, we simplify the 15,000-word report and present a cogent narrative on how Nikola became a multi-billion dollar auto company without ever putting a single truck on the road.