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Technology Stocks : Nikola Corp

NKLA 0.184

+519.5%

Feb 25 3:59 PM EST

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From: kidl	8/26/2020 8:38:07 AM
	of 252

Wedbush takes the middle ground in Nikola bull vs. bear debate Aug. 25, 2020 4:32 PM ET\|About: Nikola Corporation (NKLA)\|By: Clark Schultz, SA News Editor Wedbush Securities launches coverage on Nikola (NASDAQ: NKLA) in a new note published after the market closed today. Analyst Dan Ives plays it down the middle in the bull vs. bear debate with a Neutral rating and price target of $45. "Starting off with a $3.3 billion valuation and now boasting $15 billion with essentially no revenue until the end of 2021 has fueled a major bull-bear debate for this young controversial EV player. To this point Nikola has made no revenue over the last 4 years, burns cash at a rapid rate, and has some stout competition already off and running in the electric trucking space (Tesla, Daimler). It is the company’s investments into a hydrogen powered battery and the benefits of this type of electricity/battery vs. the traditional battery electric motors currently used in EV’s globally that is a key part of driving the value proposition in the eyes of investors on this story stock." Ives and team are optimistic on the prospects for Nikola over the next decade and note the company has a unique technology proposition in the EV space, but see valuation at current levels as too high given the inherent potential risks in the name looking ahead with the "prove me" story. Meanwhile, Seeking Alpha authors have been pouring in with bearish articles on Nikola over the last few weeks.

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