Nikola's Valuation Seems Crazy

Nikola, the Phoenix-based EV startup that hopped on the Nasdaq last week, finds itself awash in capital despite not having much to show for itself it terms of sellable product.

No matter, as it doesn’t take a sound business model or originality to thrive on Wall Street. Nikola hasn’t even seen fit to come up with a unique moniker for itself and instead uses the scraps left by Tesla Motors’ not using the full name of the inventor that serves as its inspiration. However, Nikola is designing battery/hydrogen-driven semi trailers and pickup trucks — which are the freshest fad in the industry at present. Investors took notice and pushed Nikola’s market cap past $26 billion on Monday. It just kept climbing, too, with only the eventual promise of product and profitability to spur them on.

Read more
  • Michael In your research you may have found that after 2024 this model will no longer be part of MINI lineup. I wish you would have driven JCW version. Over an additional 100hp. With launch control it will go 0 to 60 in about 4.6 seconds. Outstanding car.
  • RHD A hybrid small pickup is a no-brainer. Let's go, already! Price it reasonably and every one will fly off of the lot.
  • RHD This is a $3,500 car (assuming you can get a good junkyard transmission and install it yourself) that, once back in usable condition, will be worth about $1,000. Hopefully the guy that spray-painted the wheels black didn't attempt to rebuild the engine himself. That would make it a $5,500 car that's worth $1,000.
  • CEastwood They should , but they won't being fearful of losing those sales of near 30 grand base Tacomas . People thought Hyundai could do this then they did it at laughably expensive prices . And try to get a base Maverick at advertised prices . Go ahead I dare you .
  • Jpurcha Nice. I had bought one from my dad's friend for my first car. University/model airplane hauler.