Send me real-time posts from this site at my email
Chris L

Nikola is a Fraud

Trevor Milton is likely a sociopath. You heard it here first, DD inside.

After watching several interviews with Trevor Milton, I noticed that he engages in behavior that is similar to other fraudster CEOs, such as Elizabeth Holmes, Jeffrey Skilling, Adam Neumann, Billy McFarland, etc.

Almost every interview of his includes contradictory information. It would probably take an hour-long YouTube video to explain all of the instances, but I'll just go by a few here that you can watch yourself. A few quick instances first:

* His company obviously copied Tesla by naming their company after Nikola Tesla, just choosing the first name instead. Then Trevor has the audacity to say that he can "out-Elon Elon". K, based on what? All of your past failures?

* His company is a patent-troll. They sued Tesla for $2 BILLION, over something so incredibly stupid, and *expected* Tesla to pay out because "they have billions anyways". This is on the level of those people who fake-trip in a Walmart and sue because "they have billions anyways". It's trolling/sociopathic behavior.

* Trevor said "they're focusing on products that generate revenue", which is why they got into hydrogen fuel cell (HFC) long-haul trucks. This was *completely contradicted* by their introduction of a pick-up truck, off-road 4x4, and a HFC jetski. Like, those are fun products, about 95% of customers buy those products for fun, not to make money off of.

* He cashed out $70,000,000 in NKLA stock and purchased a $35,000,000 home before the company even sold a single truck.

* Another thing that irks me: Trevor keeps saying "we want to cut emissions, that's our driving force" or whatever. He just bought a $35 Million house that uses WAY MORE emissions than a normal size house. And, it's way up in Utah, so he has to commute down to Arizona via air travel or more likely a private jet, which produces tons of emissions more than a normal person. This is like a "limousine liberal" personified.

* NKLA applied for a $4 Million PPP loan, despite Trevor cashing out $70,000,000 in stock, and his company being worth Billions (on paper, but they still have a credit line).

* On numerous occasions and interviews, Trevor talked about their company being "vertically integrated", i.e. owning the entire process from design, to production, to hydrogen fueling. What's really happening is their trucks are being built by a company all the way in Italy (or Germany), and then shipped to the US. He also has no plans on building out the Hydrogen fueling infrastructure. The "renderings" they keep showing he says will only cost "$10-15 Million each". That's ridiculous, the renderings for his HFC truck-stops are massive complexes that take up tons of land. Yeah, that's okay for Arizona and Utah, but not in the urban environments where most Trucks operate. And if you only have HFC-filling stations on the outskirts of cities, they'll be busy all the time which will increase transit times and cost more money. It's not like a Tesla Charging station that can just be built in a parking lot or near a loading dock.

* Videos of their "warehouse" are all empty. It's not like Tesla's Fremont plant where there are thousands of workers.

* NKLA went public through a "reverse merger", which isn't always bad, but it's still a sneaky/backdoor way to become publicly traded and in my opinion is worth staying away from on that basis alone.

* The terms of their lock-out period expiration are just ridiculous. Some people are becoming millionaires before anything has even been sold. All they did was photoshop a few renderings for a few months, and that's somehow worth millions??

* They don't even plan on having any trucks for sale for *years*. That means the next few years they're just going to be burning investors cash. Reminds me of DryShips, MoviePass, Theranos, etc.

* Their "Badger" truck is nothing more than a rendering, and they're already accepting deposits for it?? That doesn't make any sense at all, it's *years* away from production. Their truck is nothing special compared to something like Rivian's or Tesla's, and both of those companies actually have working prototypes.

* It'll be interesting if "Nikola World" even has a Badger Truck to show off. (Also, the name completely sucks)

* He always sidesteps questions asked by interviews and twists the questions. She asked about them not producing a pickup truck, and then he says "Well we have made a truck, we made the world's most advanced HFC truck..." Yeah, not what she was talking about.

* Anheuser Busch has made FREE reservations of about 800 trucks, but they haven't committed any money to the project. Anyone can go reserve a truck for free. Reservations ARE NOT sales, and Trevor talks like they're sales. That's what got Enron in trouble in the 2000s with their "Mark-to-market accounting" tricks.

* In this interview, he mentions "fun" way too often. Not really sociopathic, just kind of weird.

* They threatened to sue Bloomberg over the fact that their truck wasn't functional, which was true. If you haven't performed safety testing, then the truck isn't functional. People don't buy products without safety testing. That's why they're not actually following through on the lawsuit, because Trevor knows they would lose.

* He uses the same logic as Elizabeth Holmes, when she would spout that bullshit like "First they say you're crazy, then they fight you and then all of a sudden, you change the world." Worked out well for her, lmao!

* Why do they have such a big factory/warehouse space in Arizona, when their trucks are being "hand built" in Germany (wait, not Italy anymore??)? Also, hand-built means not an assembly line, right? He also continuously gets his dates messed up. In this interview he said they'd be beginning production within the next few months, [but in this article he says production won't begin until 2021](

* [Why is he taking shitty vertical cell-phone footage of trucks?](

) Can't he have other employees do that?

* He talks about "tickets to Nikola World" like it's fucking Coachella or something. It's a company-sponsored event dude, no one gives a shit. Ooh, you get a $100 ticket if you put down a $1,000 deposit for a truck that's not going to be coming out for years?? What a deal!

* That factory in Ulm, Germany he keeps mentioning? Right now, they only produce [fire trucks](, they don't even manufacture semi-trucks. So, uh, they're just going to convert from building diesel powered fire trucks to building electric and/or HFC trucks? Has that ever been done before ever?

* [Trevor thinks that two days of reservations is enough to forecast an entire year's worth of reservations.](

* In that article, he takes all criticism as "haters" or whatever, and not people who just want to understand what's going on. That's cult-like behavior, something to avoid in droves if you ever see it as an investor.

I could go on, that's what I've seen so far, and I'll probably keep updating this in the future. Result: I'd stay far away from this stock simply because they have nothing for sale for years, which is ridiculous. The CEO acts like a sociopath, and seems to embody the types of traits seen in other sociopaths who were engaging in fraudulent/vaporware products. They're just going to burn through any money that investors have added before delivering anything.

Edit: As mentioned in the comments, Trevor Milton isn't even the CEO any more. That job has been taken up by [Mark Russell]( who was the former CEO of Worthington Industries, a metal manufacturing company.

Edit: Another point is that it seems like Nikola thinks the Diesel trucking industry is just going to roll over, die, and replace all their trucks with Nikola Trucks. There is no way these companies are going to let that happen:


In this video he sounds like a straight-up sociopath, also talks about having "fun" again:

via a user

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue