Nikola is trying its best to put on a new face, hoping everyone has forgotten about the disastrous start to its life as a public company. To try and undo some of the damage, Nikola CEO Mark Russell appeared on Jim Cramer’s show recently to talk about the company, including the GM deal everyone is wondering about.
You can check out a clip of the full segment in this CNBC article, and I’ll share some of my favorite moments below.
Cramer deciding he likes hydrogen is sad, but unsurprising. He never understood Tesla (until his daughter showed him the light), so why would he understand Nikola? The idea that “this market loves EVs, so they should love Nikola” is a completely braindead conclusion bereft of even the most basic analysis. Ask yourself why the market values companies like Tesla, and then try and figure out whether Nikola has any of those same qualities. It doesn’t. As a business, Nikola is a joke.
What exactly has Nikola done to convince anyone that it’s time to take them seriously, or that they deserve a fresh look? From my perspective, it seems like things are worse than ever.
Also pretty funny that Cramer thought that Mark Russell was the new CEO. He became CEO when VectoIQ took the company public, but Cramer probably didn’t realize it because we never heard from him while Nikola’s legendary founder Trevor Milton was around.
“We have lots of trucks, I swear!”
The definition of insanity is giving the same answers over and over again for months and hoping people eventually believe it. They’re basically praying that nobody has been following along long enough to have heard that canned answer 50 times already. It’s always the same answer, there’s never any news.
Just what Nikola shareholders needed now that the stock is in the shitter –– another equity raise! They just have to wait a few more months for investors to forget about what happened in 2020. But this is the last one, I swear!
Gotta love hearing Nikola’s CEO admit that Elon is “partially correct” about “fool sells”.
Translation: Trevor is going to dump all his shares Steve Jobs style the moment lockup expires.
Translation: The Badger is dead, there was never a business case, and we may lose GM as a partner. Mark’s face when the Badger is first mentioned says it all.
Man, that was so awkward. Mark Russell knows the GM deal is dead. The nervous laughter and inflection in his voice says it all, but I don’t think Cramer realizes it yet.
Hydrogen is not the fuel of the future. Hydrogen cars are for morons. Bad call Cramer.