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Nikola: There Are Better Places To Park Your Capital<blockquote>尼古拉：有更好的地方存放你的资本</blockquote>
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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":834644365,"tweetId":"834644365","gmtCreate":1629801806557,"gmtModify":1631890221480,"author":{"id":3586053409735009,"idStr":"3586053409735009","authorId":3586053409735009,"authorIdStr":"3586053409735009","name":"525d868","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[],"wearingBadges":[],"fanSize":131,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"title":"","extraTitle":"","html":"<html><head></head><body><p>Help like and comment thanks!<span>[Happy] </span><span>[Happy] </span></p></body></html>","htmlText":"<html><head></head><body><p>Help like and comment thanks!<span>[Happy] </span><span>[Happy] </span></p></body></html>","text":"Help like and comment thanks![Happy] [Happy]","highlighted":2,"essential":1,"paper":1,"likeSize":9,"commentSize":101,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/834644365","repostId":1169972539,"repostType":4,"repost":{"id":"1169972539","kind":"news","pubTimestamp":1629801723,"share":"https://www.laohunote.com/m/news/1169972539?lang=zh_CN&edition=full","pubTime":"2021-08-24 18:42","market":"us","language":"en","title":"Nikola: There Are Better Places To Park Your Capital<blockquote>尼古拉：有更好的地方存放你的资本</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169972539","media":"seekingalpha","summary":"Summary\n\nThe problem with Nikola is that it’s still in the pre-revenue stage, as it hasn’t delivered","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul> <li>The problem with Nikola is that it’s still in the pre-revenue stage, as it hasn’t delivered a single truck to this day.</li> <li>On top of that, the company has little credibility at this stage.</li> <li>We find it extremely difficult to justify a long position in Nikola.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4eaa8f75d2799b3620f44fcd3e31e9a5\" tg-width=\"1536\" tg-height=\"941\" referrerpolicy=\"no-referrer\"><span>solarseven/iStock via Getty Images</span></p><p><blockquote><ul><li>尼古拉的问题在于，它仍处于收入前阶段，因为至今还没有交付过一辆卡车。</li><li>最重要的是，该公司现阶段几乎没有信誉。</li><li>我们发现很难证明持有尼古拉的多头头寸是合理的。</li></ul><p class=\"t-img-caption\"><span>solarseven/iStock 来自盖蒂图片社</span></p></blockquote></p><p> The latest developments show that Nikola (NKLA) is still years away from generating any meaningful revenue and creating shareholder value. It failed to show meaningful progress in the last 7 years since its inception and there’s a risk that it will continue to underperform in the foreseeable future. As a result, we believe that there are better places to park your capital rather than invest in Nikola, which has several red flags that are making it uninvestable at this stage.</p><p><blockquote>最新进展表明，Nikola (NKLA) 距离产生任何有意义的收入和创造股东价值还需要数年时间。自成立以来的 7 年里，该公司未能取得有意义的进展，在可预见的未来，该公司有可能继续表现不佳。因此，我们认为有更好的地方来存放您的资本，而不是投资尼古拉，尼古拉有几个危险信号，使其在现阶段无法投资。</blockquote></p><p> <b>Red Flags Ahead</b></p><p><blockquote><b>前方危险信号</b></blockquote></p><p> Founded 7 years ago in 2014, Nikola went public by merging with the SPAC VectoIQ Acquisition Corporation last year right after the pandemic started. Currently, the company wants to specialize in developing long-haul hydrogen-fueled semi-trucks, as most of its trucks are expected to be powered by hydrogen fuel cells. However, Nikola hasn’t shown much progress in recent quarters and as a result, its stock has significantly underperformed the S&P 500 index in the last 12 months and it also has been tumbling since June of 2020.</p><p><blockquote>Nikola 成立于 7 年前的 2014 年，去年疫情开始后，通过与 SPAC VectoIQ Acquisition Corporation 合并上市。目前，该公司希望专门开发长途氢燃料半挂卡车，因为其大多数卡车预计将由氢燃料电池提供动力。然而，Nikola 在最近几个季度并没有取得太大进展，因此，其股票在过去 12 个月中的表现明显逊于标普500指数，而且自 2020 年 6 月以来也一直在下跌。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b0351b61d06badcc08a10b1f17f7ddd5\" tg-width=\"1280\" tg-height=\"443\" width=\"100%\" height=\"auto\"><span>Chart: Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>图表：寻求阿尔法</span></p></blockquote></p><p> The problem with Nikola is that it’s still in the pre-revenue stage, as it hasn’t delivered a single truck to this day. For that reason, it wasn’t a surprise when the company released a disappointing Q2 earnings report in recent weeks in which it recorded an operating loss of $138.4 million and a net loss of $143.2 million.</p><p><blockquote>尼古拉的问题在于，它仍处于收入前阶段，因为至今还没有交付过一辆卡车。因此，该公司最近几周发布的第二季度财报令人失望，营业亏损 1.384 亿美元，净亏损 1.432 亿美元，也就不足为奇了。</blockquote></p><p> The biggest downside for Nikola is that hasn’t produced or delivered anything meaningful in the last 7 years that it has been in the business. The only thing that the company does is it announces a concept of the upcoming vehicle but later cancels it. That’s what happened to Nikola One, Badger, NZT, and a couple of other models that were presented to the public in the past. To this day, Nikola has developed only prototypes but hasn’t made a single working truck that’s ready to be sold. While currently, it expects to deliver up to 100 pre-series Nikola Tre BEVs in the second half of this year, there’s no guarantee that it will be able to reach that goal.</p><p><blockquote>尼古拉最大的缺点是，在过去的 7 年里，它没有生产或交付任何有意义的产品。该公司所做的唯一一件事是宣布了即将推出的车辆的概念，但后来取消了它。这就是过去向公众展示的 Nikola One、Badger、NZT 和其他几款车型的遭遇。迄今为止，尼古拉只开发了原型车，但还没有制造出一辆可供销售的工作卡车。虽然目前，该公司预计将在今年下半年交付多达 100 辆预系列 Nikola Tre 纯电动汽车，但不能保证一定能实现这一目标。</blockquote></p><p> However, even if Nikola manages to deliver those vehicles anytime soon, it’s still a long way from mass producing them and generating any meaningful revenues. Let’s not forget that its flagship hydrogen-fueled Nikola Two and Nikola Tre trucks are still in development and are expected to be delivered only in late 2023 – 2024. As a result, investors in Nikola shouldn’t expect the company to create additional shareholder value anytime soon.</p><p><blockquote>然而，即使尼古拉能够很快交付这些车辆，距离大规模生产和产生任何有意义的收入还有很长的路要走。别忘了，其旗舰氢燃料卡车 Nikola Two 和 Nikola Tre 仍在开发中，预计要到 2023 年底至 2024 年才能交付。因此，Nikola 的投资者不应指望该公司能在短期内为股东创造额外价值。</blockquote></p><p> Another problem for Nikola is that last year it lost two crucial potential partners, BP (BP) and General Motors (GM), who could’ve helped it to build the necessary hydrogen infrastructure that could’ve powered its trucks. As a result, the company has no national hydrogen network to this day and it will be extremely costly for it to build it on its own due to technology constraints. On top of that, Nikola also doesn’t have the first-mover advantage since companies such as Hyundai and Hyzon already released hydrogen-fueled cars for commercial use and are expanding their facilities to expand their overall annual capacity.</p><p><blockquote>尼古拉面临的另一个问题是，去年它失去了两个重要的潜在合作伙伴，即英国石油公司（BP）和通用汽车公司（GM），这两个公司本可以帮助它建设必要的氢能基础设施，为其卡车提供动力。因此，该公司迄今为止还没有全国氢能网络，而且由于技术限制，自行建设氢能网络的成本将极高。最重要的是，尼古拉也没有先发优势，因为现代和 Hyzon 等公司已经发布了用于商业用途的氢燃料汽车，并正在扩大其设施，以扩大其年总产能。</blockquote></p><p> In addition, the rise of electric vehicles and the growth of the EV infrastructure could make hydrogen-fueled cars irrelevant, since at this stage batteries are more efficient. Also, the launch of Tesla Semi, which is likely going to be released next year, could make Nikola’s truck irrelevant due to the better cost, growing number of electric charging stations, and better credibility of Tesla (TSLA).</p><p><blockquote>此外，电动汽车的兴起和电动汽车基础设施的发展可能会使氢燃料汽车变得无关紧要，因为现阶段电池效率更高。此外，特斯拉 Semi 可能会在明年发布，由于成本更高、电动汽车充电站数量不断增加以及特斯拉（TSLA）更高的可信度，尼古拉的卡车可能会变得无关紧要。</blockquote></p><p> Another major downside for Nikola is that the company has little credibility at this stage. Its founder Trevor Milton has been under investigation by the SEC and the DOJ since last year for lying about every aspect of the business to shareholders, while the regulators have also not concluded their investigations into the company yet. On top of that, there are already several class-action lawsuits filed against Nikola by its investors on behalf of law firms, which are likely going to prevent the company from receiving backing from major institutional investors anytime soon.</p><p><blockquote>尼古拉的另一个主要缺点是该公司现阶段几乎没有信誉。该公司创始人特雷弗·米尔顿自去年以来一直受到美国证券交易委员会和司法部的调查，原因是他在业务的各个方面向股东撒谎，而监管机构也尚未结束对该公司的调查。最重要的是，尼古拉的投资者已经代表律师事务所对其提起了几起集体诉讼，这可能会阻止该公司很快获得主要机构投资者的支持。</blockquote></p><p></p><p> Considering all of this, it’s safe to say that Nikola’s losses are going to continue in the following quarters and the cash burn is not going to be stopped anytime soon. At the end of Q2 Nikola already had only $632.7 million in cash reserves, down from $763.8 million at the end of Q1. It’s safe to say that if the production ramps up in the future, the company is likely going to execute another secondary offering to avoid cash shortage and a liquidity crisis since it still won’t be able to make any money in the foreseeable future.</p><p><blockquote>考虑到所有这些，可以肯定地说，尼古拉在接下来的几个季度里还将继续亏损，现金消耗也不会很快停止。截至第二季度末，尼古拉的现金储备仅为 6.327 亿美元，低于第一季度末的 7.638 亿美元。可以肯定地说，如果未来产量增加，该公司很可能会进行另一次二次发行，以避免现金短缺和流动性危机，因为在可预见的未来，该公司仍然无法赚到任何钱。</blockquote></p><p> Therefore, while hydrogen-fueled trucks might be the future, it’s unlikely that Nikola will be the one to reach that future ahead of others. In addition, we find it extremely difficult to justify a long position in Nikola, since the company trades at a market cap of around $4 billion, but is expected to make less than $5 million in revenues this year and only $166 million in revenues next year if everything goes according to the plan. As a result, it’s safe to assume that its stock is likely going to continue to depreciate in the following months and it’s better to avoid it, especially since it has a bearish quant rating from Seeking Alpha.</p><p><blockquote>因此，虽然氢燃料卡车可能是未来，但尼古拉不太可能比其他人更早实现这一未来。此外，我们发现很难证明持有 Nikola 的多头头寸是合理的，因为该公司的市值约为 40 亿美元，但预计今年的收入不到 500 万美元，如果一切按计划进行，明年的收入仅为 1.66 亿美元。因此，可以肯定的是，该公司的股票很可能在未来几个月内继续贬值，最好避免贬值，尤其是因为 Seeking Alpha 对其进行了看跌量化评级。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nikola: There Are Better Places To Park Your Capital<blockquote>尼古拉：有更好的地方存放你的资本</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNikola: There Are Better Places To Park Your Capital<blockquote>尼古拉：有更好的地方存放你的资本</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-08-24 18:42</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul> <li>The problem with Nikola is that it’s still in the pre-revenue stage, as it hasn’t delivered a single truck to this day.</li> <li>On top of that, the company has little credibility at this stage.</li> <li>We find it extremely difficult to justify a long position in Nikola.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4eaa8f75d2799b3620f44fcd3e31e9a5\" tg-width=\"1536\" tg-height=\"941\" referrerpolicy=\"no-referrer\"><span>solarseven/iStock via Getty Images</span></p><p><blockquote><ul><li>尼古拉的问题在于，它仍处于收入前阶段，因为至今还没有交付过一辆卡车。</li><li>最重要的是，该公司现阶段几乎没有信誉。</li><li>我们发现很难证明持有尼古拉的多头头寸是合理的。</li></ul><p class=\"t-img-caption\"><span>solarseven/iStock 来自盖蒂图片社</span></p></blockquote></p><p> The latest developments show that Nikola (NKLA) is still years away from generating any meaningful revenue and creating shareholder value. It failed to show meaningful progress in the last 7 years since its inception and there’s a risk that it will continue to underperform in the foreseeable future. As a result, we believe that there are better places to park your capital rather than invest in Nikola, which has several red flags that are making it uninvestable at this stage.</p><p><blockquote>最新进展表明，Nikola (NKLA) 距离产生任何有意义的收入和创造股东价值还需要数年时间。自成立以来的 7 年里，该公司未能取得有意义的进展，在可预见的未来，该公司有可能继续表现不佳。因此，我们认为有更好的地方来存放您的资本，而不是投资尼古拉，尼古拉有几个危险信号，使其在现阶段无法投资。</blockquote></p><p> <b>Red Flags Ahead</b></p><p><blockquote><b>前方危险信号</b></blockquote></p><p> Founded 7 years ago in 2014, Nikola went public by merging with the SPAC VectoIQ Acquisition Corporation last year right after the pandemic started. Currently, the company wants to specialize in developing long-haul hydrogen-fueled semi-trucks, as most of its trucks are expected to be powered by hydrogen fuel cells. However, Nikola hasn’t shown much progress in recent quarters and as a result, its stock has significantly underperformed the S&P 500 index in the last 12 months and it also has been tumbling since June of 2020.</p><p><blockquote>Nikola 成立于 7 年前的 2014 年，去年疫情开始后，通过与 SPAC VectoIQ Acquisition Corporation 合并上市。目前，该公司希望专门开发长途氢燃料半挂卡车，因为其大多数卡车预计将由氢燃料电池提供动力。然而，Nikola 在最近几个季度并没有取得太大进展，因此，其股票在过去 12 个月中的表现明显逊于标普500指数，而且自 2020 年 6 月以来也一直在下跌。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b0351b61d06badcc08a10b1f17f7ddd5\" tg-width=\"1280\" tg-height=\"443\" width=\"100%\" height=\"auto\"><span>Chart: Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>图表：寻求阿尔法</span></p></blockquote></p><p> The problem with Nikola is that it’s still in the pre-revenue stage, as it hasn’t delivered a single truck to this day. For that reason, it wasn’t a surprise when the company released a disappointing Q2 earnings report in recent weeks in which it recorded an operating loss of $138.4 million and a net loss of $143.2 million.</p><p><blockquote>尼古拉的问题在于，它仍处于收入前阶段，因为至今还没有交付过一辆卡车。因此，该公司最近几周发布的第二季度财报令人失望，营业亏损 1.384 亿美元，净亏损 1.432 亿美元，也就不足为奇了。</blockquote></p><p> The biggest downside for Nikola is that hasn’t produced or delivered anything meaningful in the last 7 years that it has been in the business. The only thing that the company does is it announces a concept of the upcoming vehicle but later cancels it. That’s what happened to Nikola One, Badger, NZT, and a couple of other models that were presented to the public in the past. To this day, Nikola has developed only prototypes but hasn’t made a single working truck that’s ready to be sold. While currently, it expects to deliver up to 100 pre-series Nikola Tre BEVs in the second half of this year, there’s no guarantee that it will be able to reach that goal.</p><p><blockquote>尼古拉最大的缺点是，在过去的 7 年里，它没有生产或交付任何有意义的产品。该公司所做的唯一一件事是宣布了即将推出的车辆的概念，但后来取消了它。这就是过去向公众展示的 Nikola One、Badger、NZT 和其他几款车型的遭遇。迄今为止，尼古拉只开发了原型车，但还没有制造出一辆可供销售的工作卡车。虽然目前，该公司预计将在今年下半年交付多达 100 辆预系列 Nikola Tre 纯电动汽车，但不能保证一定能实现这一目标。</blockquote></p><p> However, even if Nikola manages to deliver those vehicles anytime soon, it’s still a long way from mass producing them and generating any meaningful revenues. Let’s not forget that its flagship hydrogen-fueled Nikola Two and Nikola Tre trucks are still in development and are expected to be delivered only in late 2023 – 2024. As a result, investors in Nikola shouldn’t expect the company to create additional shareholder value anytime soon.</p><p><blockquote>然而，即使尼古拉能够很快交付这些车辆，距离大规模生产和产生任何有意义的收入还有很长的路要走。别忘了，其旗舰氢燃料卡车 Nikola Two 和 Nikola Tre 仍在开发中，预计要到 2023 年底至 2024 年才能交付。因此，Nikola 的投资者不应指望该公司能在短期内为股东创造额外价值。</blockquote></p><p> Another problem for Nikola is that last year it lost two crucial potential partners, BP (BP) and General Motors (GM), who could’ve helped it to build the necessary hydrogen infrastructure that could’ve powered its trucks. As a result, the company has no national hydrogen network to this day and it will be extremely costly for it to build it on its own due to technology constraints. On top of that, Nikola also doesn’t have the first-mover advantage since companies such as Hyundai and Hyzon already released hydrogen-fueled cars for commercial use and are expanding their facilities to expand their overall annual capacity.</p><p><blockquote>尼古拉面临的另一个问题是，去年它失去了两个重要的潜在合作伙伴，即英国石油公司（BP）和通用汽车公司（GM），这两个公司本可以帮助它建设必要的氢能基础设施，为其卡车提供动力。因此，该公司迄今为止还没有全国氢能网络，而且由于技术限制，自行建设氢能网络的成本将极高。最重要的是，尼古拉也没有先发优势，因为现代和 Hyzon 等公司已经发布了用于商业用途的氢燃料汽车，并正在扩大其设施，以扩大其年总产能。</blockquote></p><p> In addition, the rise of electric vehicles and the growth of the EV infrastructure could make hydrogen-fueled cars irrelevant, since at this stage batteries are more efficient. Also, the launch of Tesla Semi, which is likely going to be released next year, could make Nikola’s truck irrelevant due to the better cost, growing number of electric charging stations, and better credibility of Tesla (TSLA).</p><p><blockquote>此外，电动汽车的兴起和电动汽车基础设施的发展可能会使氢燃料汽车变得无关紧要，因为现阶段电池效率更高。此外，特斯拉 Semi 可能会在明年发布，由于成本更高、电动汽车充电站数量不断增加以及特斯拉（TSLA）更高的可信度，尼古拉的卡车可能会变得无关紧要。</blockquote></p><p> Another major downside for Nikola is that the company has little credibility at this stage. Its founder Trevor Milton has been under investigation by the SEC and the DOJ since last year for lying about every aspect of the business to shareholders, while the regulators have also not concluded their investigations into the company yet. On top of that, there are already several class-action lawsuits filed against Nikola by its investors on behalf of law firms, which are likely going to prevent the company from receiving backing from major institutional investors anytime soon.</p><p><blockquote>尼古拉的另一个主要缺点是该公司现阶段几乎没有信誉。该公司创始人特雷弗·米尔顿自去年以来一直受到美国证券交易委员会和司法部的调查，原因是他在业务的各个方面向股东撒谎，而监管机构也尚未结束对该公司的调查。最重要的是，尼古拉的投资者已经代表律师事务所对其提起了几起集体诉讼，这可能会阻止该公司很快获得主要机构投资者的支持。</blockquote></p><p></p><p> Considering all of this, it’s safe to say that Nikola’s losses are going to continue in the following quarters and the cash burn is not going to be stopped anytime soon. At the end of Q2 Nikola already had only $632.7 million in cash reserves, down from $763.8 million at the end of Q1. It’s safe to say that if the production ramps up in the future, the company is likely going to execute another secondary offering to avoid cash shortage and a liquidity crisis since it still won’t be able to make any money in the foreseeable future.</p><p><blockquote>考虑到所有这些，可以肯定地说，尼古拉在接下来的几个季度里还将继续亏损，现金消耗也不会很快停止。截至第二季度末，尼古拉的现金储备仅为 6.327 亿美元，低于第一季度末的 7.638 亿美元。可以肯定地说，如果未来产量增加，该公司很可能会进行另一次二次发行，以避免现金短缺和流动性危机，因为在可预见的未来，该公司仍然无法赚到任何钱。</blockquote></p><p> Therefore, while hydrogen-fueled trucks might be the future, it’s unlikely that Nikola will be the one to reach that future ahead of others. In addition, we find it extremely difficult to justify a long position in Nikola, since the company trades at a market cap of around $4 billion, but is expected to make less than $5 million in revenues this year and only $166 million in revenues next year if everything goes according to the plan. As a result, it’s safe to assume that its stock is likely going to continue to depreciate in the following months and it’s better to avoid it, especially since it has a bearish quant rating from Seeking Alpha.</p><p><blockquote>因此，虽然氢燃料卡车可能是未来，但尼古拉不太可能比其他人更早实现这一未来。此外，我们发现很难证明持有 Nikola 的多头头寸是合理的，因为该公司的市值约为 40 亿美元，但预计今年的收入不到 500 万美元，如果一切按计划进行，明年的收入仅为 1.66 亿美元。因此，可以肯定的是，该公司的股票很可能在未来几个月内继续贬值，最好避免贬值，尤其是因为 Seeking Alpha 对其进行了看跌量化评级。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4451120-nikola-there-are-better-places-to-park-your-capital\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://seekingalpha.com/article/4451120-nikola-there-are-better-places-to-park-your-capital","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169972539","content_text":"Summary\n\nThe problem with Nikola is that it’s still in the pre-revenue stage, as it hasn’t delivered a single truck to this day.\nOn top of that, the company has little credibility at this stage.\nWe find it extremely difficult to justify a long position in Nikola.\n\nsolarseven/iStock via Getty Images\nThe latest developments show that Nikola (NKLA) is still years away from generating any meaningful revenue and creating shareholder value. It failed to show meaningful progress in the last 7 years since its inception and there’s a risk that it will continue to underperform in the foreseeable future. As a result, we believe that there are better places to park your capital rather than invest in Nikola, which has several red flags that are making it uninvestable at this stage.\nRed Flags Ahead\nFounded 7 years ago in 2014, Nikola went public by merging with the SPAC VectoIQ Acquisition Corporation last year right after the pandemic started. Currently, the company wants to specialize in developing long-haul hydrogen-fueled semi-trucks, as most of its trucks are expected to be powered by hydrogen fuel cells. However, Nikola hasn’t shown much progress in recent quarters and as a result, its stock has significantly underperformed the S&P 500 index in the last 12 months and it also has been tumbling since June of 2020.\nChart: Seeking Alpha\nThe problem with Nikola is that it’s still in the pre-revenue stage, as it hasn’t delivered a single truck to this day. For that reason, it wasn’t a surprise when the company released a disappointing Q2 earnings report in recent weeks in which it recorded an operating loss of $138.4 million and a net loss of $143.2 million.\nThe biggest downside for Nikola is that hasn’t produced or delivered anything meaningful in the last 7 years that it has been in the business. The only thing that the company does is it announces a concept of the upcoming vehicle but later cancels it. That’s what happened to Nikola One, Badger, NZT, and a couple of other models that were presented to the public in the past. To this day, Nikola has developed only prototypes but hasn’t made a single working truck that’s ready to be sold. While currently, it expects to deliver up to 100 pre-series Nikola Tre BEVs in the second half of this year, there’s no guarantee that it will be able to reach that goal.\nHowever, even if Nikola manages to deliver those vehicles anytime soon, it’s still a long way from mass producing them and generating any meaningful revenues. Let’s not forget that its flagship hydrogen-fueled Nikola Two and Nikola Tre trucks are still in development and are expected to be delivered only in late 2023 – 2024. As a result, investors in Nikola shouldn’t expect the company to create additional shareholder value anytime soon.\nAnother problem for Nikola is that last year it lost two crucial potential partners, BP (BP) and General Motors (GM), who could’ve helped it to build the necessary hydrogen infrastructure that could’ve powered its trucks. As a result, the company has no national hydrogen network to this day and it will be extremely costly for it to build it on its own due to technology constraints. On top of that, Nikola also doesn’t have the first-mover advantage since companies such as Hyundai and Hyzon already released hydrogen-fueled cars for commercial use and are expanding their facilities to expand their overall annual capacity.\nIn addition, the rise of electric vehicles and the growth of the EV infrastructure could make hydrogen-fueled cars irrelevant, since at this stage batteries are more efficient. Also, the launch of Tesla Semi, which is likely going to be released next year, could make Nikola’s truck irrelevant due to the better cost, growing number of electric charging stations, and better credibility of Tesla (TSLA).\nAnother major downside for Nikola is that the company has little credibility at this stage. Its founder Trevor Milton has been under investigation by the SEC and the DOJ since last year for lying about every aspect of the business to shareholders, while the regulators have also not concluded their investigations into the company yet. On top of that, there are already several class-action lawsuits filed against Nikola by its investors on behalf of law firms, which are likely going to prevent the company from receiving backing from major institutional investors anytime soon.\nConsidering all of this, it’s safe to say that Nikola’s losses are going to continue in the following quarters and the cash burn is not going to be stopped anytime soon. At the end of Q2 Nikola already had only $632.7 million in cash reserves, down from $763.8 million at the end of Q1. It’s safe to say that if the production ramps up in the future, the company is likely going to execute another secondary offering to avoid cash shortage and a liquidity crisis since it still won’t be able to make any money in the foreseeable future.\nTherefore, while hydrogen-fueled trucks might be the future, it’s unlikely that Nikola will be the one to reach that future ahead of others. In addition, we find it extremely difficult to justify a long position in Nikola, since the company trades at a market cap of around $4 billion, but is expected to make less than $5 million in revenues this year and only $166 million in revenues next year if everything goes according to the plan. As a result, it’s safe to assume that its stock is likely going to continue to depreciate in the following months and it’s better to avoid it, especially since it has a bearish quant rating from Seeking Alpha.","news_type":1,"symbols_score_info":{"NKLA":0.9}},"isVote":1,"tweetType":1,"viewCount":1803,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":39,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/834644365"}
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