it just came to spotlight with recent IPO. Not sure on details. Market cap shows 2.0B on etrade, outstanding shares 29M shares. google search shows 23B. This article status 12B although it is several hours ago and shares just went hay-wire 68% now. https://finance.yahoo.com/news/niko...-a-100-billion-someday-founder-165247261.html
Its interesting how this nkla stock came public.. there was a merger then an ipo. I looked it up last week and the company was trading around 35. All of the sudden they believe its a tesla competitor. So I'm sure new investors want in because of how hot this sector is. Shares of VectoIQ Acquisition (NASDAQ:VTIQ) closed higher on Tuesday, as the stock resumed its upward run ahead of the closing of its merger with electric big-rig truck maker Nikola Motor. VectoIQ's shares ended Tuesday's session at $25.18, up 15.4%. So what Shares of VectoIQ, a special-purpose acquisition company that is set to merge with Nikola Motor next month, have had a wild run since the beginning of May. The stock took a dive last week, but it resumed its upward run on Tuesday.
Upon the closing of the transaction, the combined company will be named Nikola Corporation. The implied enterprise value at closing of the deal is $3.3 billion and Nikola said via release Tuesday transaction proceeds will help accelerate production, allow Nikola to break ground on its state-of-the-art manufacturing facility in Coolidge, Arizona, and begin its hydrogen station infrastructure roll-out. The company expects to generate revenue by 2021 with the roll- out of its BEV truck, followed by FCEV truck sales starting in 2023 and the initial build out of hydrogen fueling stations to serve Nikola customers’ fleets, like Anheuser-Busch.
That sharp rise -- Nikola was valued at around $3 billion in a 2019 fundraising -- has catapulted its founder into the ranks of the world’s richest people. Regulatory filings indicate Milton owns 35% of Nikola, giving him a net worth of $4 billion, according to the Bloomberg Billionaires Index. Nikola’s press office didn’t immediately respond to requests for comment. Milton founded Nikola in 2014. The Phoenix-based company designs and manufactures electric components, drivetrains and vehicles including the Nikola One and Nikola Two electric semi trucks. It plans to use solar power to split water into hydrogen that can be used to usurp diesel as trucking fuel.
So just like a refinery burns natty gas and coke (not the drinkable kind of course) to get gasoline and diesel Nikola will use solar to get hydrogen. Seems the better route, but I suppose longer to develop, would be direct solar powered.
I made about 50% on VTIQ (now known as NKLA) in past few weeks. I sold when the acquisition took place -- thinking I was smart to sell into the news. I guess not.
It's a heavily funded electric/hydorgen cell transportation company. I wouldn't bet against it just yet.
VTIQ merged with NKLA with NKLA being the new merged company. Had VTIQ and sold it too. Would not be the first stock I have sold that ended up running higher. It is part of trading.
Does VTIQ stock still exist now or has become NKLA? I did not chase the store just purchase several NKLA on fury.
its truck called badger looks damn nice although it is not extreme and outerworldly as tesla cyber truck. if i could complain, it seem to be resemble ford too much and seems like a very souped up version of ford f150 falcon. semi-trucks also looking awesome and futuristic. If this guy gets a spotlight and idol status as Elon Musk, sky is roof for its stock.