Nikola (NKLA, $38.84) CEO made false statements , claims Hindenburg Research
Nikola Corp. shares plunged Thursday, following allegations from analysts at short-seller, Hindenburg Research, that the electric-truck startup is "an intricate fraud built on dozens of lies."
Hindenburg said it has evidence from phone calls, text messages and emails that reveals many false statements from the company's founder and CEO Trevor Milton. Hingdenburg notes that in one of those statements is a claim that Nikola's headquarters has "3.5 megawatts of solar panels on its roof producing energy" – something that is not supported by aerial photographs of the Phoenix, Arizona site. (according to Hindenburg).
"Trevor has managed to parlay these false statements made over the course of a decade into a ~$20 billion public company," Hindenburg wrote. "He has inked partnerships with some of the top auto companies in the world, all desperate to catch up to Tesla and to harness the EV wave.”
NKLA's MACD Histogram crosses above signal line
The Moving Average Convergence Divergence (MACD) for NKLA turned positive on November 29, 2024. Looking at past instances where NKLA's MACD turned positive, the stock continued to rise in of 39 cases over the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Indicator shows that the ticker has stayed in the oversold zone for 16 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an Uptrend is expected.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where NKLA advanced for three days, in of 233 cases, the price rose further within the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on November 01, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on NKLA as a result. In of 80 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where NKLA declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for NKLA entered a downward trend on December 09, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.932) is normal, around the industry mean (2.115). P/E Ratio (0.000) is within average values for comparable stocks, (25.104). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (2.737). Dividend Yield (0.000) settles around the average of (0.055) among similar stocks. P/S Ratio (23.202) is also within normal values, averaging (122.471).
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating slightly worse than average price growth. NKLA’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. NKLA’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 74, placing this stock worse than average.
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a company which engages in the provision of zero-emissions transportation and infrastructure solutions
Industry TrucksConstructionFarmMachinery