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Technology Stocks : Nikola Corp
NKLA 0.184+1,542.9%Feb 25 3:59 PM EST
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From: kidl9/17/2020 8:24:27 AM
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Never-dull Nikola sized up favorably by JPMorgan after CFO chat

Sep. 16, 2020 3:20 PM ET|About: Nikola Corporation (NKLA)|By: Clark Schultz, SA News Editor


JPMorgan says the overall message from the firm's talk with Nikola ( NKLA +1.1%) CFO Kim Brady was reassuring. Most importantly, it is noted that there is no loss of momentum with existing partners, prospective customers, suppliers and employees.

Key point #1: "Mr. Brady noted that some of the issues that have recently been discussed relate to events that preceded Nikola’s SPAC merger and some pre-date the company’s founding in 2014."

Key point #2: "Mr. Brady noted that manufacturing partners have conducted extensive due diligence on the company. Bosch has had several score of employees engaged with Nikola, spanning the timeline of events noted in a recent short-report."

JPMorgan analyst Paul Coster says Brady neither confirmed nor denied that regulators are investigating the company, but sounded a bit frustrated by how things are being reported in the media.

JPMorgan sticks with its Overweight rating on Nikola after the CFO talk, although it is noted that there is "never a dull moment" in covering the stock.

Read the transcript of Nikola's appearance at the Virtual Morgan Stanley Laguna Conference.

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