Anyone here has done some DD on this?

Idk seems sketchy to me. 4 employees and being able to preorder for $0 down and it's being counted towards their potential revenue. I would say proceed with caution.

Yeah it really feels that way. Every sheit no name stock that pops up just getting pumped.

Another company that will refuse to show any cracks.

Allin-baby, get it while its hot.

why not both?

300k volume to 50M volume. Volume history sample size very small.

Bought 6 shares this morning at 49.10, yippee.

Portfolio +148.5% since March 22nd.

It's all funny money now.

12 billion market cap for a company with 0 revenue. Perfectly balanced, as all things should be.

If you like pumps, go for it but take gains quickly and don't look back.

could be both

The biggest retail pile in since 1999/2000 is going on right now. They always rip the crap.
It's all people believing the narrative of funny money. Silver had the same thing, everyone believed the narrative of funny money causing hyperinflation after 2009 so they piled into silver. It crashed 70% and stayed there once the narrative fell apart.

unreal. whats the best way to short NKLA without getting raped on the put premiums? any reason not to??

because you don't know how much higher the idiots will push it. and as you said, the premiums are ridiculous.

easier to just stay away.

If you're really bold sell a short term put and buy one that's further out at a higher strike.

I did the opposite. I sold the 45/40 put spread for $1.5~ credit and bought it back for 70% profit.

Pretty easy trade on these pump and dumps and an insane IV.

Will look at a credit call spread / debit put spread sometime in the future when it becomes more clear (depends on the IV) - going to stay away for now.

A final answer to my own question:
Yes, NKLA is a scam.

https://hindenburgresearch.com/nikola/

I think it comes down to whether they actually have usable tech that they claim they have. They can make their company legit by making this badger with GM even though all they brought to the table was some drawings. If it turns out they have been lying about the fuel cells/semi truck tech then that is the big issue. Trevor will find a way out of this and the stock will go back up either way. I wouldn’t be buying puts next week. Way too risky with this wild card CEO

Nikola just out with a hilarious response this morning premarket, which is ripped it from -14% premarket to near green:

I love that last one. They're taken the only course open to them given their giant undeniable fraud:

- Anything we're they're caught flat out, like the truck rolling down a hill fraudulently because it had no engine in their promo video, they're confirming the fraud but denying that it was deception.
- They're weasel-wording out of anything they can weasel word out of.
- Anything that can be punted the future, like the abandonment of their truck prototype, they're pulling an Elon Musk type fraud and claiming it's still coming.

It was the best option open to them, but I can't imagine anyone who isn't insane believing them at this point. I don't see how this doesn't go from the $31 it is now down to $10 or less.

So their prototype was actually a "pusher", but they are saying it is not a pusher because it was designed to be able to run "eventually", other prototypes aren't meant to run at all I guess? They didn't address any of Trevor Miltons past business history and shady dealings either which was a big part of the report.

I have some 15$ 1/15/2021p for 2.25 that I am hoping will be a big bagger in the next few weeks.

This could easily get short squeezed into the stratosphere as well.

Just insane answers, confirms how much deep in it they are if that's their best try.

Strange. GM was adamant that they had done their due diligence on Nikola just this morning. Why would they pull out now?

Also, seemed like the deal was pretty risk free for them. Maybe they were selling the shares into the pump today, assuming they were allowed.

That 5$ squeeze was pretty impressive. 15+% in a few minutes

https://v.redd.it/daobm9i8jsn51

It seems to have stabilized since Hindenburg with the CEO and CFO making the rounds and some better news coming out. This may not impress speculators atm but it at least has found its footing.