Here is a play on NKLA: potential double. GM says the other day that this is a legit company by partnering with them to produce the trucks. GM now has a financial interest in NKLA succeeding. Today short sellers come out with fraud reports. Currently stock sits at 39.2. If you think this was bonus, pick up weekly 40calls here at 1.3. Company likely to defend as the CEO has a huge ego

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Posting as :
works at
You are currently posting as works at

CEO has a huge ego and thinks he can get away with the malarkey Musk pulls. A more apt comparison is probably Mr. Newman.


Also, typically not a good idea to use a company such as GM as a bellwether.

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If NKLA’s tech is so great how come they’re using GMs battery platform?

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May be trying to get down to 36 level where it was right before it popped. Then it could bounce. I'll give it a shot tho

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Lawyers put a muzzle on the CEO. This thing is toast in the short term.

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Basically, gist is to “let the sec figure it out”? HLF and GE had better responses they could have almost copied.

Glad they pointed out K&E is a leading law firm too 🙄

funny

It looks like buying more puts would have been the play

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Especially after posting that you’ve been working on a response for 14 hours and then hiring outside legal counsel

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People act like the GM partnership is an endorsement of this crappy company. GM is bringing everything to the table and likely has the discretion to terminate the JV agreement when NKLA fails to meet numerous performance milestones.

GM routinely enters into bigger JV agreements - they just entered into one with Honda that is far less sexy. This is basically an agreement to outsource the market test of their first EV truck so if it fails In the consumer market GM won’t tarnish its truck brands. No one should be surprised if GM quietly cuts bait a month from now.

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Play at your own risk. I take higher probability trades

You think it will get above 41.3 by tom EOD?

Just needs a spike on any information released. Company will defend. CEO tweeted that he is drafting a response

I don’t care long term for NKLA. Just playing the action

Check out the CEOs twitter. Likely a big response tonight

I am buying 38.5 calls for next week

Averaged down at .7. Now own at $1

Good luck all. Going wrong direction now but willing to take the L so will hold till tomorrow

Overall market action didn’t help this play

Unfortunately no

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Lol now Citron Research is jumping on board.

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