The drama with Hindenburg report continues, as Nikola (NKLA) started the day with a statement commenting “on a false and defamatory report published September 10, 2020, by Hindenburg Research”. Long story short-
The Nikola One is a real truck that sits in Nikola’s showroom. A pusher means a vehicle that was not designed to be moved by its own propulsion system. The Nikola One was, in fact, designed to be powered and driven by its own propulsion.Nikola
So, basically Nikola said that Nikola One was a real truck and was not a pusher as suggested by Hindenburg but they pivoted from Nikola 1 and started working on Nikola 2 which you can see being driven in the video below.
Hindenburg describes Nikola as a “sea of lies” and doubts the functionality of the products, especially the battery-powered and hydrogen-powered trucks. Various technologies are either not available or have been purchased from third parties.
But lets leave this aside for now, and lets take a look at the chart that surfaced this morning.
#topofthemorning stock chart = $NKLA— vigtec (@vigtecofficial) September 14, 2020
As this is heavily discussed right now in the media, the chart is shown here on the https://t.co/HBPUj6sFu8 Live Charts module. Price is at an important juncture for a bounce or more pain. Sitting right on our proprietary bull bear pivot. pic.twitter.com/k3RYGrAdHo
Ouch, this looks scary for NKLA stock investors, and seems like their rebuttal piece pushed the share price even lower during pre-market session and a 10% drop at the start of the trading day.