Do you know the tech giant Sony what is its core product line? Electronics? Well its not the only line they are in future because they are taking over Tesla in 2020-21 here is how. It will blow you when you go through its features. Nikola is planning to build a 1-million-square-foot facility south of Phoenix and start making trucks in 2021. It’s expecting to reach full production of about 30,000 fuel cell-electric vehicles in 2027 and 15,000 battery-electric vehicles the following year.
Ford Motor Co., by comparison, is expected to report about $115 billion of revenue for this year. And yet Nikola, whose stock more than doubled Monday, traded up another 30% to as high as $95 after the close, giving the company a richer market capitalization than the almost 117-year-old maker of the F-150.
Must Read: Most costly tweet ever by Elon Musk
Musk has a record of making strange remarks on Twitter. His latest example was on May 1, when he tweeted that Tesla stock “is too high.” In 2018, he said on Twitter that he was going to take Tesla private when its stock price his $420 and that he had already secured funding. The SEC sued over that tweet, and both Musk and Tesla paid separate $20 million fines as part of a settlement, and Musk agreed to submit his tweets to an overseer from then on.
How can you be so vulnerable? Tesla stock was absolutely trading fine at $760 until it pulled back by cautious string of tweets wondering how stock is trading so well? followed by another claim of lack of interest in physical properties located in CA (selling all of them soon), followed by the crazy girl friend confession, all these claims declined the stock by 11% leaving market viewers confused.
He also claimed he has sufficient funds which could buy Tesla and bring the stock at $460. Oh No !!
Tweet can cost you million dollar, how? learn from Musk @GraspintimeTweet
Tesla’s stock had been trading at about $760 a share then, after Musk’s 11:11 am Tweet, plummeted to below $700 a share within minutes before rebounding slightly. By midday, the stock was down 8%.The tweet came amidst a string of tweets starting with an announcement that he was “Selling almost all my physical possessions” and “Will own no house,” followed by lyrics from the US national anthem and another tweet indicating that his girlfriend, pop singer Grimes, “is mad at me.”