Lazy journalism

Sky are currently suggesting that the FTSE 100 has plunged due to fears of a second wave. Index currently trading at -1.38%

It beggars belief how they consistently get away with this lazy fear-mongering journalism. Thank god investors have more sense than make decisions off what they read in the MSM.

At open, the markets dropped around 2-3%.
US futures went to about -3%.

Meanwhile the news I saw was stating AstraZeneca has a vaccine and is now pushing 400+million around the world etc etc…

But checking elsewhere it just says that it’s still not confirmed as 100% working and has side effects.

Looks a nice headline though lol

1 Like

FTSE100 has dropped 6.7% in the last 10 days. The news post is valid

Sky are still running their headline without any correction so its just lazy. In my opinion, the Astra news is a non-story as the vaccine is still under trial. They also signed a 1.2bn deal last month with the US but can you imagine going on Dragons Den with it and saying “I value my company at 100bn because Ive got all these indications of purchase but not sure if it works yet” :joy:

Well… It seems to work for Nikola Corporation. They have not sold a single vehicle and seem to remember that they have a greater market capitalisation than Ford who has an annual revenue of over 150 billion USD. Also, I think the “bookings” for Nikola are just reservations with no commitment to actually purchase the truck.

It just does not make sense to me.

Nikola will fail im sure. Just give it time.

“plunged” is a very strong word to use next to 1.x%, but yeah we are seeing a steady drop.

Weds 10th June everything was peachy.

11th and 12th last week was a heavy bleed everywhere. Whether or not this is just the tip of the iceberg and we are in for another long dip :man_shrugging:

At this stage NKLA is just a tee-shirt shop in terms of what they actually sell today. People comparing it to TSLA and new traders piling in thinking TSLA $1000 then NKLA must be too.

I had the chance to take VTIQ at $20 but I felt it was already way overvalued, its unlike any other pump and dump that it has a dedicated fan base ready to keep pumping in more. It’ll end in tears at some point.

2 Likes

I feel like it has to return to around 5-10 USD at some point.

Hopefully it will work out, Hydrogen trucks in the USA could help reduce CO2 emissions in a country with lots of vehicles… I just think that it is VERY over-priced for what it is.
I mean, you can buy the same % share in a reputable company such as Ford for the same price! :upside_down_face:

This headline was based on today and the fears of a second wave. The drop last week was due to lukewarm reception of the Feds announcement regarding continued low interest rates through 2022.

57 cases in Beijing is not a second wave. If anything what we’ve learned from this crisis is that we need to nip infection transmission in the bud and we were way behind Asia in this regard. I feel we’re in a stronger position to deal with any second wave now. Its just a shame we didnt learn from South Korea and Japan quicker.

There was some negative news in regards to Oil aswell, that contributed

1 Like

Lots of Tesla Minions overhere too? :see_no_evil:

1 Like

Going to be a painful day for those that bought TSLA on Tues-Weds last week. Looks like it’ll go back under 900 today looking at the pre.

Screenshot 2020-06-15 at 11.46.49

1 Like

If Nikola doesn’t fail, nothing makes sense anymore. It would be very sensible betting against it.

Nikola, Tesla but the king of them all is Hertz applying to issue new equity after filing for bankruptcy :joy:

1 Like

That’s just totally outrageous. They don’t have enough money to pay leases on their cars, but want to issue new shares. So essentially they have no business, but are trying to get the public to buy shares. Very desperate.

I just love how Nikola can think that their vehicle reservation actually mean anything.
I bet someone just hacked up a Python script to place orders lol.
At least with TSLA they got people to put down a reserve down payment, but Nickola didn’t, the price was set to $0 on the website. Seems really fishy and amature.

Not even the fact the CEO was selling his shares like crazy. Just so many red flags.

It might work though…
Without Covid-19 they would be a profitable business (just about)… So if they manage to issue enough shares to pay liabilities they may be able to bounce back.

I definitely understand it from the Management perspective, what I don’t get is why people/Shareholders would buy those new shares.

Source? The only time Trevor Milton sold shares, was somewhere around March for the merger. There is a short seller, Andrew Left, who is lying like shit. Claiming Trevor Milton (who isn’t CEO anymore by the way) sold a lot of shares last week. Impossible because those shares a locked for at least 1 year. So there is a lot of misinformation on the interwebs.

What I think is questionable, is how many TSLA investors/traders are outraging on NKLA. Look at it from a psychology standpoint. It is just insecurity. Apparently they fear competition? While both companies have little overlap. If you think the company you invest in is that strong, you don’t fear anything.

Just my opinion, but probably the minions will outrage there :point_down:t2::point_down:t2::point_down:t2:

1 Like

Which explains all the ‘partners’ listed on their website like Budweiser, Coke etc. Of course large companies when presented with absolutely no risk will say ‘sure, why not, if you can give us 100 vehicles that would be cool, go for it.’ Then boom - they’re a partner of Nikola.

Tesla itself is also overvalued I think. It doesn’t make sense it’s more valuable than Ford, or VW etc.

Though I think Tesla would just eat up Nikola if they saw them as a threat. Which from what I gather, they don’t. Nikola has a few nice drawings, a head engineer who used repair pinball machines, and an idea which came from scientists who had no affiliation with the company.