Why I Short Sold NKLAAugust 6th, 2020
I really don't like shorting stocks. It is a stupid approach. But the more I considered NKLA, the more I want to short it.
There are many reasons outside of the scope of this article to short NKLA.
But basically, here is where I have the biggest problem with:
Trevor Milton feels he can beat Elon at what Elon is doing and that Tesla fans hate that.
"... There is very few people who can out Elon in this world and I am one of them ..." - Trevor Milton
If this were true, then the NKLA deserves every penny and more of it's valuation. Sadly, it is not true.
Trevor has not out Elon-ed in any way. In fact he is losing by a huge margin in several aspects that really matter.
# of current fuelling stations for vehicles (Elon: 17,467, Trevor: 0)
# of pickup truck reservations (Elon: 713K, Trevor: ~5K?)
Twitter Followers (Elon: 37.6M, Trevor: 85.6K)
# Vehicle Produced (Elon: 1M+, Trevor: 0)
Pickup Truck Views on YouTube (Elon: 50M+, Trevor: maybe 1M?)
#Models produced (Elon: 5, Trevor: 0)
Tesla Employees vs. Nikola Employees (Elon: 48K, Trevor: 300)
Market Cap: (Elon: 277.60B, Trevor: 13.76B)
Since the scales seem to be out of whack, I am making a small attempt to correct the market.
Mediocre Developer always striving to be better. Learn from others' mistakes, learn by doing, fail fast, maximize productivity, and really think hard about good defaults. Computer developers have the power to add an entire infinite dimension with a single Int (or maybe BigInt). The least we can do with that power is be creative.