Diamonds and Dogs
Nikola (NKLA) gets a good deal with GM. The electric truck company with no trucks is up 35% after giving GM a 11%, or roughly $2 billion equity stake in the firm to engineer and manufacture their light-duty truck named Badger. The Badger is not expected to enter production for another two years, yet the company is worth $19 billion on no sales. GM is worth $46 billion with $120 billion in car sales. Big difference.
Profit-taking in the tech space again. Tesla (TSLA) is down 13% while Zoom Video (ZM) is down a percent as the S&P 500 passed on both stocks on Friday adding three new companies Etsy, Teradyne and Catalent to the index. The three stocks have a combined $40 billion while Zoom is worth $100 billion, and Tesla is worth $350 billion.
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