- Nikola and Lordstown, both companies, went public in 2020 through a SPAC deal and had been declining in value throughout 2021;
- Both companies have been under the spotlight for allegations relating to ‘deceitful tactics’ and misrepresentations to (potential) investors;
- Both companies have since removed themselves from their founders and formers Chief Executives;
- Nikola has promising prospects, but the risks remain high until preliminary road testing from its initial customers comes to pass. I remain neutral on the stock until the first half of 2022;
- Lordstown Motors remains a topic of controversy with no visible evidence of progress and is likely to retain a bearish trend.
For further details see:
Following Controversy, Nikola Appears Much Stronger Than Lordstown