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Nikola: There Are Better Places To Park Your Capital<blockquote>尼古拉：有更好的地方可以停放您的首都</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":[],"fanSize":131,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"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.laohu8.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：有更好的地方可以停放您的首都</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>Nikola的问题在于它仍处于预收入阶段，因为迄今为止它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可信度。</li><li>我们发现很难证明尼古拉的多头头寸是合理的。</li></ul><p class=\"t-img-caption\"><span>solarseven/iStock来自Getty Images</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，尼古拉(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。自成立以来的过去7年里，它未能取得有意义的进展，并且在可预见的未来，它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金，而不是投资尼古拉，尼古拉有几个危险信号，使其现阶段无法投资。</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，去年疫情爆发后，通过与SPAC VectoIQ收购公司合并上市。目前，该公司希望专门开发长途氢燃料半挂卡车，因为其大部分卡车预计将由氢燃料电池提供动力。然而，尼古拉最近几个季度并没有取得太大进展，因此，其股票在过去12个月中的表现明显落后于标普500指数，并且自2020年6月以来也一直在暴跌。</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>Nikola的问题在于它仍处于预收入阶段，因为迄今为止它还没有交付过一辆卡车。因此，当该公司最近几周发布令人失望的第二季度收益报告时，营业亏损为1.384亿美元，净亏损为1.432亿美元，这并不令人意外。</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>Nikola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东西。该公司所做的唯一一件事就是宣布了即将推出的车辆的概念，但后来又取消了。这就是Nikola One、Badger、NZT以及过去向公众展示的其他几款车型的情况。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出售的工作卡车。虽然目前，它预计在今年下半年交付多达100辆预系列Nikola Tre纯电动汽车，但不能保证它能够实现这一目标。</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，距离大规模生产并产生任何有意义的收入还有很长的路要走。我们不要忘记，其旗舰氢燃料Nikola Two和Nikola Tre卡车仍在开发中，预计要到2023-2024年底才能交付。因此，尼古拉的投资者不应指望该公司会很快创造额外的股东价值。</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，英国石油公司(BP)和通用汽车(GM)，他们本可以帮助它建立必要的氢基础设施，为其卡车提供动力。因此，该公司迄今为止还没有全国性的氢能网络，由于技术限制，自行建设氢能网络的成本极其高昂。最重要的是，尼古拉也不具备先发优势，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，并正在扩建其设施以扩大其整体年产能。</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增长可能会使氢燃料汽车变得无关紧要，因为现阶段电池的效率更高。此外，可能于明年发布的特斯拉Semi的推出可能会使尼古拉的卡车变得无关紧要，因为成本更高、充电站数量不断增加以及特斯拉(TSLA)的可信度更高。</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可信度。自去年以来，其创始人特雷弗·米尔顿(Trevor Milton)因在业务的各个方面向股东撒谎而受到美国证券交易委员会(SEC)和司法部的调查，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尼古拉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，尼古拉的亏损将在接下来的几个季度继续，而且现金消耗不会很快停止。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它仍然无法赚钱。</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，明年的收入仅为1.66亿美元。如果一切按计划进行。因此，可以有把握地假设其股票可能会在接下来的几个月内继续贬值，最好避免这种情况，特别是因为它获得了Seeking Alpha的看跌量化评级。</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：有更好的地方可以停放您的首都</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：有更好的地方可以停放您的首都</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>Nikola的问题在于它仍处于预收入阶段，因为迄今为止它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可信度。</li><li>我们发现很难证明尼古拉的多头头寸是合理的。</li></ul><p class=\"t-img-caption\"><span>solarseven/iStock来自Getty Images</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，尼古拉(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。自成立以来的过去7年里，它未能取得有意义的进展，并且在可预见的未来，它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金，而不是投资尼古拉，尼古拉有几个危险信号，使其现阶段无法投资。</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，去年疫情爆发后，通过与SPAC VectoIQ收购公司合并上市。目前，该公司希望专门开发长途氢燃料半挂卡车，因为其大部分卡车预计将由氢燃料电池提供动力。然而，尼古拉最近几个季度并没有取得太大进展，因此，其股票在过去12个月中的表现明显落后于标普500指数，并且自2020年6月以来也一直在暴跌。</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>Nikola的问题在于它仍处于预收入阶段，因为迄今为止它还没有交付过一辆卡车。因此，当该公司最近几周发布令人失望的第二季度收益报告时，营业亏损为1.384亿美元，净亏损为1.432亿美元，这并不令人意外。</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>Nikola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东西。该公司所做的唯一一件事就是宣布了即将推出的车辆的概念，但后来又取消了。这就是Nikola One、Badger、NZT以及过去向公众展示的其他几款车型的情况。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出售的工作卡车。虽然目前，它预计在今年下半年交付多达100辆预系列Nikola Tre纯电动汽车，但不能保证它能够实现这一目标。</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，距离大规模生产并产生任何有意义的收入还有很长的路要走。我们不要忘记，其旗舰氢燃料Nikola Two和Nikola Tre卡车仍在开发中，预计要到2023-2024年底才能交付。因此，尼古拉的投资者不应指望该公司会很快创造额外的股东价值。</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，英国石油公司(BP)和通用汽车(GM)，他们本可以帮助它建立必要的氢基础设施，为其卡车提供动力。因此，该公司迄今为止还没有全国性的氢能网络，由于技术限制，自行建设氢能网络的成本极其高昂。最重要的是，尼古拉也不具备先发优势，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，并正在扩建其设施以扩大其整体年产能。</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增长可能会使氢燃料汽车变得无关紧要，因为现阶段电池的效率更高。此外，可能于明年发布的特斯拉Semi的推出可能会使尼古拉的卡车变得无关紧要，因为成本更高、充电站数量不断增加以及特斯拉(TSLA)的可信度更高。</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可信度。自去年以来，其创始人特雷弗·米尔顿(Trevor Milton)因在业务的各个方面向股东撒谎而受到美国证券交易委员会(SEC)和司法部的调查，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尼古拉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，尼古拉的亏损将在接下来的几个季度继续，而且现金消耗不会很快停止。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它仍然无法赚钱。</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，明年的收入仅为1.66亿美元。如果一切按计划进行。因此，可以有把握地假设其股票可能会在接下来的几个月内继续贬值，最好避免这种情况，特别是因为它获得了Seeking Alpha的看跌量化评级。</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":1475,"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,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/834644365"}
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