It's been a busy first week on the stock market for hydrogen-electric truck-maker Nikola.
Even though it hasn't seen any revenue yet, the stock began to soar this week, at one point reaching $88 a share.
During the trading day Wednesday, the young company surpassed Ford's $28.8 billion market cap. Trevor Milton, founder and executive chairman of Nikola Motor Company ($NKLA) told Cheddar, "The market justifies valuation. It's hard to tell someone what a company's worth, but I do know they're rewarding companies that are willing to completely change and transform the industry."
Thursday, the stock was trading lower.
Milton pointed to competitor Tesla as an example, citing the company's consistent losses in revenue but skyrocketing stock prices. "I think that's why there's so much excitement," Milton said, "We're doing the same things for the second-highest polluter in the world, the semi-truck, that Tesla did for the cars."
Nikola's upcoming electric pickup, the Badger, is also sparking interest. It's the truck Milton hopes will one day dethrone Ford's F-150. "I think it's going to be probably one of the most successful pickup truck launches in history," he said. Preorders for the Badger open on June 29 with the company hoping to see them on the road as soon as the end of next year.
When asked about criticism from the notorious short-seller, Andrew Left, Milton said it's valid to question why he sold his own shares of the company for $10, stating that Left never tried to find out for himself why Milton would have done so. "The unfortunate part about it was that he never reached out to ask us," Milton said.
The Nikola founder went on to explain that when the company was raising money in the private sector, and underwent a reverse-merger, he was asked to sell the shares as he moved into the role of executive chairman
James Gallagher, CEO and Co-Founder of GreenLite, discusses the challenges of rebuilding the fire-affected LA area and how permitting complicates the process.
Super Bowl Champion, Julian Edelman, talks Chiefs' conspiracies, his fave TSwift song and his bet for Super Bowl LIX. Plus, the best time for a bathroom break.
Ron Hammond, Sr. Director of Government Relations at the Blockchain Association, breaks down Trump’s plan to strengthen U.S. leadership in financial technology.
BiggerPockets Money podcast is now available on Cheddar Wednesdays at 10am ET! Mindy Jensen shares how her podcast is helping people gain financial freedom.
The social video platform's future remains in doubt, as players scramble to profit from the chaos. Plus: Big oil gets bigger, DOGE downsizes, and tariffs!
Ty Young, CEO of Ty J. Young Wealth Management, joins Cheddar to discuss Trump's moves as he returns to Washington D.C. and how it may affect the U.S. economy.
Starbucks’ decision to restrict its restrooms to paying customers has flushed out a wider problem: a patchwork of restroom use policies that varies by state and city. Starbucks announced last week a new code of conduct that says people need to make a purchase if they want to hang out or use the restroom. The coffee chain's policy change for bathroom privileges has left Americans confused and divided over who gets to go and when. The American Restroom Association, a public toilet advocacy group, was among the critics. Rules about restroom access in restaurants vary by state, city and county. The National Retail Federation says private businesses have a right to limit restroom use.
President Donald Trump is talking up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank. The new entity, Stargate, will start building out data centers and the electricity generation needed for the further development of the fast-evolving AI in Texas, according to the White House. The initial investment is expected to be $100 billion and could reach five times that sum. While Trump has seized on similar announcements to show that his presidency is boosting the economy, there were already expectations of a massive buildout of data centers and electricity plants needed for the development of AI.
Chris Ruder, Spikeball Founder and CEO, explains how he and his friends put roundnet on the global map, plus, how Spikeball helps people "find their circle."