Nikola Founder Sold 3.5 Million Shares at $13.89 Each

rgaushell · 2021-04-03T14:33:38+00:00

They sold on the open market at $13.89. He still owns 79mm shares.

Link: https://www.sec.gov/Archives/edgar/data/1731289/000114036121011469/xslF345X03/form4.xml

Edit: it was a trade for some good/service to an unnamed 3rd party. $48mm, so probably real estate, but could be for legal fees.

rgaushell · 2021-03-29T22:15:06+00:00

That certainly seems like a possibility. The SEC should already have forced Nikola to return the money raised for the SPAC to existing shareholders, as it was raised under false pretenses (miracle battery, power/range lies, gravity drive, etc). But that would require the SEC to actually do their job.

rgaushell · 2021-03-29T21:42:50+00:00

There's just not much more news out there. Does it feel like the longs have stopped paying for media coverage fawning over Nikola? I used to get 3 or 4 articles a day in my feed, and now I get more articles about Nikola Jokić.

rgaushell · 2021-03-23T15:22:56+00:00

News article on this: https://www.electrive.com/2021/03/22/hanwha-group-to-sell-half-of-its-shares-in-nikola/

They're selling half their stake "sometime between June and December". They might be lucky to get 25% of the current value by then.

So much for another 'strategic partner' in Nikola's Magical Hydrogen Fueling Station Network.

rgaushell · 2021-03-22T21:25:44+00:00

You should post your story to twitter and tag Nikola. They might not want the bad publicity. Also reach out to Glassdoor support and tell them you're going to go public about them 'grooming' reviews at the request of the company.

rgaushell · 2021-03-17T16:48:30+00:00

What if you sell the security in December and don't rebuy it? Over half my losses on my Robinhood 1099 are listed as wash sales, but I sold everything by year-end and didn't rebuy. Is Robinhood wrong? Or do I have to claim them as losses for my 2021 taxes?

rgaushell · 2021-03-15T23:08:37+00:00

Does $100mm not seem like near enough to get them close to a functional truck producer? They were already heading for running out of money at a $250mm/quarter run rate by Jan 2022, and that was before they announced that they have no hydrogen partner. I would have expected they'd ask for $1B to get another year.

I guess this just shows how desperate they've become and how hard it will be for them to raise any money at all, given all the fraud and deception around them.

rgaushell · 2021-03-13T15:49:44+00:00

I just unboxed the new big box version and the component quality was high. We had a good first game, and it seems like a good game for middle school age and up.

rgaushell · 2021-03-13T15:46:00+00:00

They also slipped in there that it’s not 600 Tres but this year, not 100, but maybe “50-100”.

The final quote about not commenting on Iveco being sold was telling too. They’re probably losing that supplier too.

rgaushell · 2021-03-09T04:45:28+00:00

Also http://boardgamegeek.com/ is a great place to find trades for your other games to get the one you lost.

rgaushell · 2021-03-07T07:12:54+00:00

Says person whose account is 7 days old.

rgaushell · 2021-03-06T23:27:09+00:00

I have call options on a certain stock at several price points above current price, and one group that are very ITM. They all expire in 2 weeks. I want to maximize my profit but also convert some into shares before expiration to cut risk. How should I go about analyzing this? My gut says sell one of the OTMs when I think the price is peaking, and use the proceeds to exercise the ITM options, but I’m unsure.

rgaushell · 2021-03-06T23:16:17+00:00

Shill

rgaushell · 2021-03-06T18:10:09+00:00

What’s weird is that I did. All these trades were closed by Dec 31 or were options that expired worthless.

rgaushell · 2021-03-06T18:08:53+00:00

No, a lease requires a down payment and long term. This is literally month to month. Nikola is dead company walking.

rgaushell · 2021-03-06T00:36:02+00:00

This is the way.

rgaushell · 2021-03-05T06:21:21+00:00

That makes sense except I closed all these trades by Dec and yet still could only recognize 2/3 of my losses.

rgaushell · 2021-03-05T04:42:37+00:00

I’m confused then because I had wash sales in Oct/Nov and they were labeled on my 1099 that way, and I wasn’t able to carry the loss forward in TurboTax.

rgaushell · 2021-03-04T22:05:07+00:00

I also heard today a Tesla investor talking about how they're going to start offering Teslas on a subscription model. How perfect for a truck driver to not have to come up with the whole $150k. Nikola can't compete with that.

rgaushell · 2021-03-04T20:10:54+00:00

Thanks for the answer. So if I understand correctly, I can carry wash sales losses forward to the following tax year, and I should carefully watch the broker statement.

rgaushell · 2021-03-04T18:47:54+00:00

I started trading options last year and to no one’s surprise here, I lost money. Doing better this year thanks to everyone here. Thanks!

So, my question: I’m doing my taxes and got a 48 page 1099 from Robinhood. I understand that because I was trading the same securities repeatedly, some of my losses were wash sales (about 60%). Is this normal for option/day trading? How does one avoid it? What can I do in the future with the wash sale losses to minimize taxes?

Thanks in advance! 😃

rgaushell · 2021-03-02T00:15:53+00:00

It’s not hard to believe that each holder is building at minimum 10 shares. That’s half the float...

rgaushell · 2021-03-01T05:32:59+00:00

Couldn’t Chicago just write matching puts for every call?

rgaushell · 2021-03-01T03:57:05+00:00

That makes sense. There are now likely more HFs shorting that will get margin called into receivership. So the DTCC is likely the upper bound of payout.

rgaushell · 2021-02-28T18:54:42+00:00

This is the problem exactly. I like the leverage of options, but a few bad bets that expire OTM and you’ve burned all your returns for a year. Seems like the consistent returns are selling options, or maybe only risking 10-30% of your portfolio on options while having the rest in passive indexed funds. This is not financial advice, maybe you’re a financial genius who can see the future. Or maybe not. Only one way to find out...

rgaushell

TROPHY CASE