‘Short the pound’ was the hot play for UK hedge funds, with some closely connected to the government. Up next: Investigation? [Fortune]
Nikola Corporation (NKLA)
Company Research
Source: Fortune
Just over 30 years after legendary investor George Soros became a billionaire by shorting the pound, hedge funds were at it again this weekend. Early on Monday, the U.K.’s currency nearly reached parity with the dollar, a once-unthinkable and record-setting descent that was a continuation of the market’s dramatically negative reaction on Friday to the new Conservative Party’s budget proposal. Deutsche Bank said it was the third worst day for sterling since Soros’ famous bet in 1992, with only its 3.7% plunge following the first wave of the COVID pandemic and the 8.1% plunge after the Brexit vote being worse. Soros was a relative rebel and outsider, though. What’s different this time is that U.K.-based hedge funds with close links to the U.K. government seem to have made out with massive paydays—and now may face investigation over whether they were leaked information the rest of the market never received. In the week to September 20, investors had actually ramped up their bullish be
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News
- Here is What to Know Beyond Why Nikola Corporation (NKLA) is a Trending Stock [Yahoo! Finance]Yahoo! Finance
- M&M Residual and Trevor R. Milton Announce Concerns Related to Potential Fraud and Misconduct at Nikola Overseen by Steve Girsky, Britton Worthen and the Board of Directors [Yahoo! Finance]Yahoo! Finance
- M&M Residual and Trevor R. Milton Announce Concerns Related to Potential Fraud and Misconduct at Nikola Overseen by Steve Girsky, Britton Worthen and the Board of DirectorsBusiness Wire
- Nikola (NKLA) Stock Dips While Market Gains: Key Facts [Yahoo! Finance]Yahoo! Finance
- Nikola Co. (NASDAQ: NKLA) is now covered by analysts at Wolfe Research. They set a "peer perform" rating on the stock.MarketBeat
NKLA
Earnings
- 2/22/24 - Beat
NKLA
Sec Filings
- 4/12/24 - Form PRER14A
- 4/10/24 - Form PREC14A
- 4/4/24 - Form 8-K
- NKLA's page on the SEC website