There's a simple antidote to the claims: ship products. The company appears to have trouble doing this, and AFAICT has not shipped a single production vehicle.
Nikola should focus on that, not trying to levitate the company's share price higher by jawboning.
The comparison to Theranos is apt in that the response of that company was to jawbone rather than ship.
They could completely discredit the Hindenberg report simply by release a video of the truck clearly driving under its own power. They haven't, and instead are just issuing these legal threats against shorters.
This hysteria against short sellers in some circles is great for hiding fraud. Wirecard also comes to mind.
Anti-short hysteria has been bugging me recently. It seems to be a recent trend and when I try to think who might have triggered it, I come up with one clear answer...
If they are lying about the drivability of One (which they almost certainly are), what does that say about Two? They've fairly obviously faked other tech, including covering up an OEM logo on an ostensibly original piece of tech with duct tape.
Nikola should focus on that, not trying to levitate the company's share price higher by jawboning.
The comparison to Theranos is apt in that the response of that company was to jawbone rather than ship.