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Tag: Nikola Corporation

  • Tesla (NASDAQ: TSLA) Claims Nikola Steal Its Truck Design

    Tesla (NASDAQ: TSLA) Claims Nikola Steal Its Truck Design

    Tesla Inc. (NASDAQ: TSLA) revealed that Nikola Corporation ()NASDAQ: NKLA) has copied the truck design of Tesla from Adriano Mudri, a director of design at the automotive company. Nikola Corporation is in a legal battle with Tesla Inc. as it earlier claimed that Tesla has copied the design of the Nikola One concept. But now the electric car maker is striking back the Nikola Corporation and filed a lawsuit in the US district court.

    Nikola Corporation has earlier obtained the patent for the design of a few features of its Nikola Truck it has launched in 2016, a year before Tesla has revealed its own electric truck.  Nikola is demanding $2 billion in damages from Tesla. But Tesla denied the claim and said that the patent which Nikola has obtained is not valid as it is failed to reveal that some of the Nikola One’s features were designed by Adriano Mudri.

    The electric car maker has issued the statement and revealed that the Adriano Mudri is the designer of the Road Runner concept trucks which is a hydrogen-power concept truck. Tesla said that Trevor Milton has contacted Adriano Mudri during 2014 and or /2015 and he was aware of the design of the roadrunner truck which has similar features as Nikola one.

    Tesla argued that Trevor Milton has deceiving intent in not naming Mudri as an inventor in the patent application. The company also claimed that the patent office wouldn’t have issued the patent if they would have been aware that some features were based on a prior design by Mudri.

    Shares of Tesla Inc. (NASDAQ: TSLA) went up 1.95% at $387.79 during the trading session of Thursday. In the past 52-weeks of trading, this company’s stock has fluctuated between the low range of $43.67 and a high range of $502.49. It has moved up 787.96% from its 52-weeks low and moved down -22.83% from its 52-weeks high. Looking at its liquidity, it has a current ratio of 1.20. Tesla Inc. has a total market capitalization of $346.05 billion at the time of writing.

    Earlier, Hindenburg’s research has also claimed in a report that Nikola Corporation has made a series of false public statements. The research report also claimed that the company has deceived the public with the video called ‘Nikola One in Motion.’ But the Nikola Corporation has denied the accusation. Furthermore,  CEO Trevor Milton has also resigned from his position to defend himself against the claim made by Hindenburg research.

  • Nikola (NASDAQ: NKLA) Founder Trevor Milton Steps Down Amid Hindenburg’s Allegations

    Nikola (NASDAQ: NKLA) has revealed that Trevor Milton has submitted his resignation. He has decided to leave his position as Executive Chairman and the board member voluntarily. The board member has accepted his decision. Nikola has announced the leadership transition immediately after the Executive chairman stepped down.

    The company has named Stephen Girsky who is the vice-chairman of General Motors Co. as the new Chairman of the board. The former Chairman Trevor Milton said that Nikola is very important for him and now is not the time to focus on him but there is a need to focus on the world-changing mission of the company.

    Earlier, Hindenburg Research revealed that Nikola Corporation has made a serious false public statement. Hindenburg said that the company has deceived the public with the video called ‘Nikola One in Motion’. Nikola Corporation has earlier released the statement and disclosed that there is no truth behind this report.

    The decision of resignation came after Trevor Milton said that he has decided to defend himself against the ‘false allegations.’ It has been revealed that the US regulators have started an investigation to know the truth behind Hindenburg’s Allegations.

    Shares of Nikola Corporation traded down 29.63% as it has lost -10.13 on Monday. The company has a closing price of $24.06. In the past 52-weeks of trading, this company stock has fluctuated between the low of $10.20 and a high of $93.99. It has traded up 135.88% from its 52-weeks low and traded down -74.40% from its 52-weeks high. If we look at its profitability, it has a return on assets, and equity of -32.40%, and -34.00%. This company market capitalization has remained high, hitting $12.82 billion at the time of writing.

    Nikola stock has earlier plummeted after Hindenburg’s report raised doubt on the Nikola’s claims about its electric-vehicle technology. The report about Nikola has garnered the attention of financial regulators. This is not the first-time company has faced these types of allegations. Earlier, Bloomberg disclosed that Nikola has overstated the capabilities of the debut truck of the company. But the company denied the allegations.

  • Top 12 Trending Stocks In Auto Manufacturers Industry To Invest In

    Top 12 Trending Stocks In Auto Manufacturers Industry To Invest In

    The global auto manufacturing industry is entering into a new decade in which we anticipate a series of challenges and unexpected events. The manufacturing industry is moving with fast speed to keep pace with fast-moving technologies and innovations. The automotive industry is facing dramatic changes with the emergence of new technologies.

    The auto manufacturing sector needs to adjust its strategic priorities to gain a competitive edge.  2020 is the year of opportunities and challenges for the auto sector. The new technological advancement brings more opportunities for the industry. Consumer behavior is also changing with rapid technological innovation.

    Let’s take a quick look at the leading companies in the auto manufactures industry and see how the companies are following new trends:

    NIO Limited (NYSE: NIO)

    NIO Limited (NYSE: NIO) stock soar by 0.57% to $19.41. The most recent rating by Deutsche Bank, on September 08, 2020, is at a Buy. NIO Limited (NIO) has announced it has selected GM to be its manufacturing partner for its electric pickup truck dubbed the Badger. The Badger will use GM’s widely acclaimed Ultium battery technology. NIO Limited market capitalization remained high, hitting $26.29 billion.

    Workhorse Group Inc. (NASDAQ: WKHS)

    Workhorse Group Inc. (NASDAQ: WKHS) Shares headed rising, higher as much as 9.17%. The most recent rating by Oppenheimer, on September 03, 2020, is at an Outperform. Workhorse Group Inc. (WKHS) has earlier participated in the 9th Annual Gateway Conference on September 9th and 10th, 2020. Looking at its liquidity, it has a current ratio of 0.30. This company market capitalization has remained high, hitting $2.95 billion at the time of writing.

    General Motors Company (NYSE: GM)

    General Motors Company (NYSE: GM) last closed at $31.50, in a 52-week range of $14.32 to $38.96. It has moved up to 119.90% and moved down -19.14%. Analysts have a consensus price target of $40.38. General Motors Company (GM) has faced unexpected bills as India-China tensions delay the sale of India plant -sources. This company market capitalization has remained high, hitting $45.68 billion.

    Li Auto Inc. (NASDAQ: LI)

    Li Auto Inc. (NASDAQ: LI) stock drop by -1.33% to $17.03. The most recent rating by Morgan Stanley, on August 24, 2020, is at an Overweight. Li Auto Inc. (LI) has named Mr. Kai Wang as chief technology officer effective September 15, 2020. Mr. Wang will responsible for providing overall leadership in advanced technology research and development in intelligent vehicles, including electronic and electrical architecture, intelligent cockpit, autonomous driving, etc.

    Fiat Chrysler Automobiles N.V. (NYSE: FCAU)

    Fiat Chrysler Automobiles N.V. (NYSE: FCAU) Shares headed falling, lower as much as -3.46%. The most recent rating by Evercore ISI, on December 18, 2019, is at an Outperform. Fiat Chrysler Automobiles N.V. (FCAU) has revealed that it has revised the merger deal with French partner PSA. After the deal revision,  FCA’s shareholders getting a smaller cash payout but a stake in another business.

    Electra Meccanica Vehicles Corp. (NASDAQ: SOLO)

    Electra Meccanica Vehicles Corp. (NASDAQ: SOLO) last closed at $2.58, in a 52-week range of $0.89 to $6.00. Electra Meccanica Vehicles Corp. (SOLO) has revealed that it has decided to produce an alternative ‘utility and fleet’ version of its flagship SOLO EV, which is expected to become available in early 2021. This company market capitalization has remained high, hitting $166.69 million.

    Nikola Corporation (NASDAQ: NKLA)

    Nikola Corporation (NASDAQ: NKLA) rose 1.06% after gaining more than $0.36 on Friday. Nikola Corporation (NKLA) revealed that Trevor Milton approached the Board of Directors and proposed to leave his position as an Executive Chairman and from the Board. The Board accepted his proposal, and Stephen Girsky, former Vice Chairman of General Motors Co. and a member of Nikola’s Board, has been named Chairman of the Board, effective immediately.

    Kandi Technologies Group Inc. (KNDI)

    Kandi Technologies Group Inc. (KNDI) stock drop by 0.00% to $6.14. Kandi Technologies Group Inc. (KNDI) revealed the establishment of a wholly-owned subsidiary for its battery swapping services, China Battery Exchange Technology Co., Ltd. Using this China Battery Exchange Technology Company, Kandi can better monetize its dozens of patents in the field of battery swap systems. This company market capitalization has remained high, hitting $335.18 million at the time of writing.

    Tesla Inc. (NASDAQ: TSLA)

    Tesla Inc. (NASDAQ: TSLA) shares were trading up 4.42% at $442.15 at the time of writing on Friday. Tesla Inc. (NASDAQ: TSLA) share price went from a low point around $43.67 to briefly over $502.49 in the past 52 weeks, though shares have since pulled back to $442.15. TSLA market cap has remained high, hitting $394.56B at the time of writing, giving it a price-to-sales ratio of more than 10.

    If we look at the recent analyst rating TSLA, Piper Sandler reiterated coverage on TSLA shares with an Overweight rating and a $307.06 price target, which implies room for -135.09% downside momentum this year.

    Ford Motor Company (NYSE: F)

    Ford Motor Company (NYSE: F) last closed at $7.23, in a 52-week range of $3.96 to $9.60. It has moved up 82.58% from its 52-weeks low and moved down -24.69% from its 52-weeks high. Looking at its liquidity, it has a current ratio of 1.30. This company market capitalization remained high, hitting $28.45 billion at the time of writing. Analysts have a consensus price target of $7.66.

    XPeng Inc. (NYSE: XPEV)

    XPeng Inc. (NYSE: XPEV) fall -1.77% after losing more than -$0.34 on Friday. XPeng Inc. (XPEV) share price went from a low point around $17.37 to briefly over $25.00 in the past 52 weeks, though shares have since pulled back to $18.90.  It has moved up 8.81% from its 52-weeks low and moved down -24.40% from its 52-weeks high. Looking at its liquidity, it has a current ratio of 1.10. XPeng Inc.’s market cap has remained high, hitting $14.14 billion at the time of writing.

    Tata Motors Limited (NYSE: TTM)

    Tata Motors Limited (NYSE: TTM) Shares headed falling, lower as much as -1.20%. The most recent rating by UBS, on August 17, 2020, is at a Sell. In the past 52-weeks of trading, Tata Motors Limited (TTM) stock has fluctuated between the low of $3.92 and a high of $14.03. It has moved up 152.04% from its 52-weeks low and moved down -29.58% from its 52-weeks high. This company market capitalization has remained high, hitting $7.11 billion at the time of writing.

  • 5 Stocks That Can Be A Good Buys in Auto Manufacturers Industry

    5 Stocks That Can Be A Good Buys in Auto Manufacturers Industry

    The global auto manufacturing industry has been continuously evolving with the change in consumer demands, environment, and material innovation. As the world is moving with fast speed, the auto manufacturing industry is also entering into a new era of growth in which we expect a series of challenges but also various opportunities and it starts with 2020. 2020 is going to be a year of continuous change.

    The auto manufacture industry will need to evolve fast to keep pace with innovation in these areas. This industry is vital to the economy and workforce of the world. To gain a competitive edge and to capture future growth there is a need that the auto manufacturer industry adjusts its strategic priorities.

    Let’s have a look at the top 5 leading companies in the auto manufacturing industry:

    Tesla Inc. (NASDAQ: TSLA)

    Tesla Inc. (NASDAQ: TSLA) shares were trading down -5.83% at $447.37 at the time of writing on Wednesday. Tesla Inc. (NASDAQ: TSLA) share price went from a low point around $43.67 to briefly over $502.49 in the past 52 weeks, though shares have since pulled back to $447.37. TSLA market cap has remained high, hitting $421.65B at the time of writing, giving it a price-to-sales ratio of more than 10.

    It has been disclosed that Tesla CEO Elon Musk has met with three German ministers. He discussed the progress of collaboration between Tesla and the German biotech company. Musk was satisfied with the progress of the alliance of Tesla with vaccine developer CureVac.

    Proxy advisory firm Glass Lewis disclosed it had suggested Tesla’s investor vote in favor of re-electing  Chairwoman Robyn Denholm. If we look at the recent analyst rating TSLA, Jefferies reiterated coverage on TSLA shares with a Buy rating.

    Ford Motor Company (NYSE: F)

    Ford Motor Company (F) last closed at $6.95, in a 52-week range of $3.96 to $9.65. Analysts have a consensus price target of $7.46. Ford Motor Co. is offering buyouts to its US salaried workers as it is planning to cut its workforce by about 1,400.

    The decision has been taken to bear the shock of decreased demands amid pandemic. Ford Motor traded up 75.51% and traded down -27.98% during the 52-weeks low and high, respectively.

    Workhorse Group Inc. (NASDAQ: WKHS)

    Workhorse Group Inc. (NASDAQ: WKHS) stock drop by -5.98% to $18.94. The most recent rating by ROTH Capital, on July 13, 2020, is at a Buy. Workhorse Group has announced its participation in conferences such as LD Micro 500 Virtual Conference, 9th Annual Gateway Conference, 5th Annual Colliers Institutional Investor Conference, and Cowen 13th Annual Global Transportation & Sustainable Mobility Conference in September 2020.

    It has earlier signed deals with Hitachi to increase its production. If we look at the profitability of the Workhorse Group, it has reported the return on asset of -308.10%, return on equity of 331.60%, -102.90%.

    General Motors Company (NYSE: GM)

    General Motors Company (NYSE: GM) Shares headed rising, higher as much as 3.93%. The most recent rating by Goldman, on June 12, 2020, is at a Buy. General Motors and Ventec Life systems have joined forces to help fight the COVID-19 pandemic. The companies have delivered 30,000th V+Pro critical care ventilators to the U.S. Department of Health and Human Services. It has a 52-weeks low and high range of $143.22 and $39.78, respectively.

    Nikola Corporation (NKLA)

    Nikola Corporation (NASDAQ: NKLA) fall -3.85% after losing more than -$1.58 on Wednesday. Nikola Corporation’s founder and executive chairman has awarded the 6,005,162 options for shares of common stock to employees. This decision did not result in any stock dilution as shares underlying the options are granted from the founder’s existing holdings. Nikola Corporation’s stock has fluctuated between the low of $10.17 and a high of $93.99.  NKLA market cap has remained high, hitting $14.20 billion at the time of writing.