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Ep. 168: Swimming in an ‘Ocean of Lies’ — The Nikola Debacle

SteadyTrade

SteadyTrade.com

Business, Education, Investing

4.6589 Ratings

🗓️ 6 October 2020

⏱️ 61 minutes

🧾️ Download transcript

Summary

Self-promotion, hyperbole, and an “ocean of lies” … Today’s episode explores what happens when a $20 billion company acts like a penny stock.Typically, bigger companies are considered more solid and trustworthy. But that may not be true for Nikola Corporation (NASDAQ: NKLA), an electric vehicle company. Turns out, it may have been a house of cards ... Learn what happened when it all came crashing down!In today’s episode, the whole SteadyTrade Podcast crew — Tim Bohen, Kim Ann Curtin, and Step...

Transcript

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0:00.0

In one photograph, I saw like seven things that made me think,

0:04.7

this is a guy who knows he's in front of millions of people.

0:09.4

And that's a different motive than somebody who's in front of it

0:13.6

because they are working around the clock trying to build a company that to them is their vision.

0:19.4

Right.

0:19.8

Which is it's a good point.

0:21.6

Elon sleeps in the factory.

0:23.6

Yeah.

0:24.6

Exactly.

0:25.6

Exactly.

0:26.6

Like he's not in it.

0:27.6

Like Elon is not in it for the money.

0:30.6

I'm not saying he doesn't like money or doesn't want money or doesn't want profit.

0:34.6

But it's the why, right?

0:36.6

His why is transformation is getting to space.

0:41.6

Like, his why is what inspires him.

0:44.5

And I just wonder, like, I wasn't paying attention to this guy for Nicola before, but I just wonder,

0:51.1

did you come away inspired from his conversations?

0:58.1

You're listening to the Steady Trade podcast.

1:02.6

A podcast that inspires traders to make meaningful strides and pursue their passions.

1:08.9

Your hosts are Tim Bowen, the lead trainer at Stocks to Trade Pro, Kim Ann Curtin,

1:14.8

the Wall Street coach, and Stephen Johnson, the up-and-coming trader who's always willing

...

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