Not Everybody Gets To Be Tesla
I don’t make the rules, but things didn’t exactly sparkle for Tesla-lookalike Nikola after its debut earnings release. T hat and more in The Morning Shift for August 5, 2020.
1st Gear: Nikola Stock Down As It Posts First Reported Results
Nikola does what Tesla does, currently promising an electric pickup truck not long after showing an electric semi. While Tesla gets to float up past Toyota in market evaluation, Nikola is experiencing a drop, as CNBC reports:
I don’t know if Nikola is any less likely than Tesla to execute on its EV truck plans, but I know that the shine Tesla seems to have doesn’t look like it’s rubbing off on Nikola.
This is the most 2020 news item I could imagine, as far as the auto business could go. Nissan just got outpaced by a bike parts company.
It’s not fair to say that this is just related to Covid. Nissan has been having its own troubles for some time now, and also the bike parts company in question is none other than the legendary Shimano. The Nikkei Asian Review reports:
The coronavirus crisis is dramatically adjusting the relative strength of companies, a trend not lost on the stock market, where the share price of Shimano, the big bicycle parts maker, hit another all-time high in August. Shimano’s market capitalization at the end of January, well before the outbreak became a full-blown pandemic, was 1.6 trillion yen ($15.3 billion). That was good for ...
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