$NKLA: Expecting Downward Pivots (Still Overhyped)
Updated
Nikola is one of those stocks I used to be a fan of. Last time, I said it was bearish it crashed, and frankly support seems mostly due to hyped up marketing. NKLA is fairly less than fair market value. Regardless if the CEO has real trucks on the road is irrelevant. The revenue and brand equity isn't there to make its valuation the way it was or is. Perhaps I see something wrong, but I don't production is positioning them at currently being a multi-billion dollar corporation. I feel it is overvalued and many people are trying to take it as a bid off of Tesla sentiment. This isn't how financials should work when fully evaluating a company. That being said, I would love to be wrong. I'm bullish on the overall potential of hydrofuel technologies and those reasons are quite obvious. Keep in mind, everything I say is on an opinion based basis, do your own due diligence and this isn't meant to be taken seriously or as actionable financial advice.
Note
The pivot looks like it is near a bursting point at the current bearish priceNote
From my previous drop prediction, it retraced than went down again, making price mostly neutral prior to what I think is continuation of some bearishness
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