r/StockMarket – [X-Post] Trevor Milton is probably going a sociopath. You heard it right here first, DD inside.

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After watching a number of interviews with Trevor Milton, I observed that he engages in habits that’s much like different fraudster CEOs, similar to Elizabeth Holmes, Jeffrey Skilling, Adam Neumann, Billy McFarland, and so on.

Virtually each interview of his consists of contradictory data. It will most likely take an hour-long YouTube video to elucidate all the situations, however I am going to simply go by a number of right here which you can watch your self. Just a few fast situations first:

  • His firm clearly copied Tesla by naming their firm after Nikola Tesla, simply selecting the primary identify as a substitute. Then Trevor has the audacity to say that he can “out-Elon Elon”. Okay, primarily based on what? Your whole previous failures?

  • His firm is a patent-troll. They sued Tesla for $2 BILLION, over one thing so extremely silly, and anticipated Tesla to pay out as a result of “they’ve billions in any case”. That is on the extent of these individuals who fake-trip in a Walmart and sue as a result of “they’ve billions in any case”. It is trolling/sociopathic habits.

  • Trevor stated “they’re specializing in merchandise that generate income”, which is why they obtained into hydrogen gasoline cell (HFC) long-haul vehicles. This was utterly contradicted by their introduction of a pick-up truck, off-road 4×4, and a HFC jetski. Like, these are enjoyable merchandise, about 95% of shoppers purchase these merchandise for enjoyable, to not earn a living off of.

  • He cashed out $70,000,000 in NKLA inventory and bought a $35,000,000 dwelling earlier than the corporate even offered a single truck.

  • NKLA utilized for a $4 Million PPP mortgage, regardless of Trevor cashing out $70,000,000 in inventory, and his firm being price Billions (on paper, however they nonetheless have a credit score line).

  • On quite a few events and interviews, Trevor talked about their firm being “vertically built-in”, i.e. proudly owning your entire course of from design, to manufacturing, to hydrogen fueling. What’s actually occurring is their vehicles are being constructed by an organization all the best way in Italy (or Germany), after which shipped to the US. He additionally has no plans on constructing out the Hydrogen fueling infrastructure. The “renderings” they preserve exhibiting he says will solely price “$10-15 Million every”. That is ridiculous, the renderings for his HFC truck-stops are huge complexes that take up tons of land. Yeah, that is okay for Arizona and Utah, however not within the city environments the place most Vans function. And in case you solely have HFC-filling stations on the outskirts of cities, they will be busy on a regular basis which can improve transit occasions and price extra money. It is not like a Tesla Charging station that may simply be in-built a parking zone or close to a loading dock.

  • Movies of their “warehouse” are all empty. It is not like Tesla’s Fremont plant the place there are literally thousands of employees.

  • NKLA went public by way of a “reverse merger”, which is not all the time unhealthy, however it’s nonetheless a sneaky/backdoor method to turn out to be publicly traded and in my view is price staying away from on that foundation alone.

  • The phrases of their lock-out interval expiration are simply ridiculous. Some individuals are changing into millionaires earlier than something has even been offered. All they did was photoshop a number of renderings for a number of months, and that is by some means price thousands and thousands??

  • They do not even plan on having any vehicles on the market for years. Which means the following few years they’re simply going to be burning traders money. Jogs my memory of DryShips, MoviePass, Theranos, and so on.

https://www.youtube.com/watch?v=6Qn2p3Lrn4A

  • Their “Badger” truck is nothing greater than a rendering, they usually’re already accepting deposits for it?? That does not make any sense in any respect, it is years away from manufacturing. Their truck is nothing particular in comparison with one thing like Rivian’s or Tesla’s, and each of these firms even have working prototypes.

  • It’s going to be fascinating if “Nikola World” even has a Badger Truck to indicate off. (Additionally, the identify utterly sucks)

  • He all the time sidesteps questions requested by interviews and twists the questions. She requested about them not producing a pickup truck, after which he says “Effectively now we have made a truck, we made the world’s most superior HFC truck…” Yeah, not what she was speaking about.

  • Anheuser Busch has made FREE reservations of about 800 vehicles, however they have not dedicated any cash to the undertaking. Anybody can go reserve a truck without cost. Reservations ARE NOT gross sales, and Trevor talks like they’re gross sales. That is what obtained Enron in hassle within the 2000s with their “Mark-to-market accounting” methods.

  • On this interview, he mentions “enjoyable” method too usually. Probably not sociopathic, simply sort of bizarre.

  • They threatened to sue Bloomberg over the truth that their truck wasn’t purposeful, which was true. If you have not carried out security testing, then the truck is not purposeful. Folks do not buy merchandise with out security testing. That is why they don’t seem to be really following by way of on the lawsuit, as a result of Trevor is aware of they’d lose.

  • He makes use of the identical logic as Elizabeth Holmes, when she would spout that bullshit like “First they are saying you are loopy, then they combat you after which unexpectedly, you modify the world.” Labored out nicely for her, lmao!

  • Why have they got such an enormous manufacturing facility/warehouse area in Arizona, when their vehicles are being “hand constructed” in Germany (wait, not Italy anymore??)? Additionally, hand-built means not an meeting line, proper? He additionally constantly will get his dates tousled. On this interview he stated they’d be starting manufacturing throughout the subsequent few months, but in this article he says production won’t begin until 2021.

  • Why is he taking shitty vertical cell-phone footage of vehicles? Cannot he produce other workers do this?

  • He talks about “tickets to Nikola World” prefer it’s fucking Coachella or one thing. It is a company-sponsored occasion dude, nobody offers a shit. Ooh, you get a $100 ticket in case you put down a $1,000 deposit for a truck that is not going to be popping out for years?? What a deal!

  • That manufacturing facility in Ulm, Germany he retains mentioning? Proper now, they solely produce fire trucks, they do not even manufacture semi-trucks. So, uh, they’re simply going to transform from constructing diesel powered hearth vehicles to constructing electrical and/or HFC vehicles? Has that ever been accomplished earlier than 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 no matter, and never individuals who simply wish to perceive what is going on on. That is cult-like habits, one thing to keep away from in droves in case you ever see it as an investor.

I might go on, that is what I’ve seen to this point, and I am going to most likely preserve updating this sooner or later. Consequence: I might keep distant from this inventory just because they don’t have anything on the market for years, which is ridiculous. The CEO acts like a sociopath, and appears to embody the sorts of traits seen in different sociopaths who had been partaking in fraudulent/vaporware merchandise. They’re simply going to burn by way of any cash that traders have added earlier than delivering something.

Edit: As talked about within the feedback, Trevor Milton is not even the CEO any extra. That job has been taken up by Mark Russell who was the previous CEO of Worthington Industries, a metallic manufacturing firm.

https://en.wikipedia.org/wiki/Nikola_Corporation

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