Big moves are making for trending stocks, and Nikola (NASDAQ: NKLA) is on the big-time radar of the investing community just three days after Nikola stock has started trading on the Nasdaq.
Social media chatter erupted, packed with hashtags #DieselIsDead and mind-blowing profits screen caps as NKLA stock shares doubled in a single trading session. And suddenly, apparently from nowhere, Nikola founder Trevor Milton is being proclaimed the next Elon Musk.
But is Nikola really the next Tesla (NASDAQ: TSLA) hydrogen-fueled-truck-maker? And has Nikola really “the worst ass zero emission truck” available, in Milton’s words? As always, the answer depends on who you ask, and whether they are long or short in position.
Nikola Stock: Priming the Pump
Finding the timetable for NKLA stock “accelerated” will be the understatement of the year. Even TSLA stock was not swift to generate this hype. But all may not be better in the age of unicorns and giga-unicorns but it is certainly faster.
Let us take a moment to back up the truck though. First off, Nikola does not just make trucks which are environmentally friendly. The company even provides sports utility vehicles and even a “personal watercraft with full electric sit-down.”
Also Nokola fancies itself as an energy company, full of “Heavy Duty fast-fueling with hydrogen” that is “standardized to fill in less than 15 minutes, similar to today’s diesel.”
Yet let us not kid ourselves — the business and social-media pundits are buzzing, pure and simple, about the trucks. And, of course, the Nikola Badger pickup truck does look pretty awesome, apart from being fully electric / hydrogen-fuel-cell-powered.
And Nikola provides three semi-truck models for the trucking industry: Nikola One, Two and “Tre.” Undeniably, the futuristic look of those trucks added to the buzz. Indubitably also added to the share-price pump by producing $10 billion in pre-orders (according to the company).
Can Milton achieve what Elon did as both a hype man and a provocateur on the market? He is off to a pretty good start, but the potential course for NKLA largely depends on whether Milton can keep up the act — and whether the public continues to buy it.
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