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   Technology StocksNikola Corp

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To: Glenn Petersen who wrote (129)9/21/2020 4:47:14 PM
From: kidl
   of 249
Remaining NKLA bulls seem to largely hang their hats based on the GM deal which imho is a huge mistake. The structure of this deal shields GM from any financial downside while providing sizeable upside if NKLA succeeds. GM’s only real downside is a loss in management / BOD credibility if NKLA fails.

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From: Julius Wong9/21/2020 4:48:56 PM
   of 249
Nikola details terms of Milton's split from the board

Nikola (NASDAQ: NKLA) updates in a SEC filing on the terms associated with the exit of Trevor Milton from his executive chairman position at the company.

"Milton voluntarily stepped down from his position as Executive Chairman of the Company and all positions as an employee and officer of the Company and its subsidiaries, and his position as a director on the Board and as a director of any of the Company’s subsidiaries, including all committees thereof, in each case, effective as of September 20, 2020. Mr. Milton will be making himself reasonably available to provide consulting services and to assist the Company as reasonably requested by the Board on an ad hoc basis through December 31, 2020."

"Milton expressed his desire to relinquish, and pursuant to the Agreement, Mr. Milton agreed to relinquish 100% of the 4,859,000 performance-based stock units granted to Mr. Milton on August 21."

Milton also agreed to certain standstill provisions and said he would vote his shares with the board recommendations for director slots.

Shares of Nikola are down 3.95% AH to $26.49 after a 19.33% drop during the regular session. Volume on Nikola was over 86M today vs. the normal daily average of about 24.9M.

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To: kidl who wrote (130)9/21/2020 5:08:07 PM
From: Glenn Petersen
   of 249
I almost bought NKLA today for a dead cat bounce, but came to my senses.

The NKLA debacle didn't do any significant damage to the other SPAC/EV deals.

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From: kidl9/23/2020 8:29:57 AM
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Nikola partners still firmly on board per CFO

Sep. 22, 2020 3:52 PM ET|About: Nikola Corporation (NKLA)|By: Clark Schultz, SA News Editor

Nikola ( NKLA +2.9%) CFO Kim Brady says the company still has the support of all its automotive partners, despite the abrupt departure of founder Trevor Milton.

"We feel very confident about due diligence that has been performed by our partners, and as you can see, our partners have been 100% supportive and behind us," stated Brady earlier today at a conference hosted by Evercore ISI.

Brady noted that both Bosch and GM were "incredibly thorough" in terms of their due diligence of Nikola.

"We recommend that investors really focus on the future, and what we have delivered, and what we are going to deliver," he added.

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From: kidl9/23/2020 11:38:52 AM
   of 249

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To: kidl who wrote (134)9/23/2020 1:36:10 PM
From: JubilationT
   of 249
Didnt know that the deal has not been finalized giving GM an out if they choose to.
I am now sitting on the sidelines.

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From: Julius Wong9/23/2020 4:25:37 PM
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Nikola turns lower after WSJ warns on stalled talks with potential partners

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To: JubilationT who wrote (135)9/23/2020 6:15:10 PM
From: kidl
   of 249
The sidelines ... Good move.

I have been on the sidelines for a couple of months aside from a few day trades but turned to the "dark side" as soon as I saw Nikola's pathetic Hindenburg rebuttal.

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From: kidl9/24/2020 8:19:24 AM
   of 249
Nikola under fire again as Wedbush turns bearish

Sep. 23, 2020 10:23 PM ET|About: Nikola Corporation (NKLA)|By: Clark Schultz, SA News Editor

Wedbush drops Nikola (NASDAQ: NKLA) to an Underperform rating in a new note posted after the market close.

"While we have watched this name from the sidelines given our caution on the execution front, we now believe the downside risks outweigh any positives for the stock," writes analyst Dan Ives.

"Overall we still believe the company's EV and hydrogen fuel cell ambitions are attainable in the semi-truck market, although we have serious concerns that the execution and timing of these ambitious goals stay on track over the coming years," he adds.

Beyond the Trevor Milton drama, Ives also thinks some of the eye-popping battery innovations coming out of Tesla throws a wrench in the ROI story around hydrogen fuel cell vehicles over the long term.

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From: Julius Wong9/24/2020 8:07:38 PM
   of 249
Tesla (TSLA) claims Nikola (NKLA) stole its truck design from Rimac designer

In a surprising turn of events, Tesla (TSLA) now claims Nikola (NKLA) stole its truck design from Rimac’s designer in an update to its patent lawsuit update.

As we previously reported, Nikola alleged that Tesla’s electric truck design infringes on its existing patents.

Specifically, a series of three design patents that Nikola obtained for the design of a few features of its Nikola One truck unveiled in 2016 — a year before Tesla unveiled its own electric truck.

Nikola is asking for $2 billion in damages from Tesla.

Tesla denies the claims, but since Nikola obtained the design patent, it is now in a position to either show that it is not infringing on the patent or attempt to invalidate the patents.

In a new response filed this week, Tesla claimed that the patents aren’t valid because Nikola failed to disclose that some of the Nikola One’s features were designed by Adriano Mudri, most known for being the Director of Design at Rimac.

Tesla wrote in their response:

“Adriano Mudri is the designer of the Road Runner concept truck. The Road Runner truck is a hydrogen-powered concept truck. The Road Runner concept truck was entered into the 2010 Michelin Design Challenge, and was selected for display at the 2010 North American International Auto Show. Several images of the Road Runner concept truck are reproduced below.”

Here are the pictures that Tesla references in the statement above:

Tesla claims that Trevor Milton met with Adriano Mudri “during 2014 and/or 2015” and he was aware of the Road Runner truck design, which has similar features as the Nikola One, including the wrap-around windshield — one of the designs that Nikola patented.

The automaker added in the filing:

“Adriano Mudri’s Road Runner concept truck design constituted a significant inventive contribution to the inventions claimed in the Design Patents. Adriano Mudri was not identified as an inventor during prosecution of the applications that led to the Design Patents.”

Tesla argues that Milton had “deceptive intent” in not naming Mudri as an inventor in the patent application and that the patent office wouldn’t have issued the patent if they would have been aware that some features were based on a prior design by Mudri.

Here is Tesla’s new filing in full as part of the lawsuit:

View this document on Scribd

Electrek’s TakeWhen Nikola first filed the lawsuit, we broke down each of the Nikola’s specific claims in what we believed basically amounted to a patent trolling case in a purely design-based objective way.

The truth is that the patent office should have never granted the patents in the first place.

They are all about vague design features that have been around for decades before Nikola ever existed and granting them only opens the door for some malicious people to do some patent trolling.

That’s exactly what happened.

I think the only winners in this situation, like it is often the case in those patent trolling cases, are going to be the lawyers involved.

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