Little heard of electric vehicle maker Nikola, which has not yet delivered its product, valued itself at $29 billion. That’s more than Ford Motor Company! Along with four other startup EV manufacturers, stock has crashed. The five EV firms concerned have lost a total of $60 billion in value, showing the risk of ‘blank check boom’ listing on public exchanges.
Little heard of electric vehicle maker Nikola, which has not yet delivered its product, valued itself at $29 billion. That’s more than Ford Motor Company! Along with four other startup EV manufacturers, stock has crashed. The five EV firms concerned have lost a total of $60 billion in value, showing the risk of ‘blank check boom’ listing on public exchanges.
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