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Old 06-03-2020, 11:05 AM
 
Location: Casa Grande, AZ (May 08)
1,673 posts, read 3,798,639 times
Reputation: 1389

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First, I never know whether to put these types of posts in the "AZ" forum where they get less activity, but is a little more accurate - or here in the Phoenix forum....oh well.

BUT, another BIG deal for Pinal County and the City of Coolidge (although it will have significant impact on Casa Grande and environs also).

Nikola Motors - (which is HQ on Broadway near Sky Harbor with over 300 employees) has closed it's merger deal with a public equity firm and will start trading on the NASDAQ under the NKLA symbol tomorrow. While the public investment is good - the real important part of this is they received 700 million in funding (already in the bank) as part of the merger! This will allow groundbreaking on their truck factory in Coolidge later this year as I understand it. The factory will employ over 2000 at build out.

This, combined with the Lucid Factory which is really moving along - shell buildings complete, robotics being installed - still plan to have first cars off the line by Christmas - will all really help turn this I 8/I 10 region into an auto manufacturing hub.

https://www.prnewswire.com/news-rele...301070179.html

Last edited by sh9730; 06-03-2020 at 11:16 AM..
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Old 06-03-2020, 12:35 PM
 
23,012 posts, read 42,134,302 times
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More on this from the NASDAQ website.

Excerpt: "VectoIQ Acquisition, a blank check company led by former GM execs and focused on the smart transportation industry, disclosed on Tuesday that virtually all shareholders voted to approve the pending acquisition of hydrogen-powered electric truck startup Nikola Corp. Currently listed on the Nasdaq under the symbol VTIQ, the company is expected to begin trading on the Nasdaq under its new ticker NKLA on Thursday, June 4."

A "blank check company" is also referred to as a SPAC.

From Investopedia: "A special purpose acquisition company (SPAC) is a company with no commercial operations that is formed strictly to raise capital through an initial public offering (IPO) for the purpose of acquiring an existing company. Also known as "blank check companies," SPACs have been around for decades. In recent years, they've gone mainstream, attracting big-name underwriters and investors and raising a record amount of IPO money in 2019."

I hope this happens, nice to see some manufacturing efforts blossom here in the USA. Having some GM execs in the game is good, they should bring a lot smarts to the table.
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Old 06-03-2020, 12:58 PM
 
Location: Casa Grande, AZ (May 08)
1,673 posts, read 3,798,639 times
Reputation: 1389
Quote:
Originally Posted by Mike from back east View Post
More on this from the NASDAQ website.



I hope this happens, nice to see some manufacturing efforts blossom here in the USA. Having some GM execs in the game is good, they should bring a lot smarts to the table.
Well - obviously any startup is a gamble - but they do have over 10 BILLION in pre-orders if they can get the technology to work at scale.

The exec team seems to have confidence. The CEO just tweeted this out as part of his IPO tweets:

"Our entire executive team; executive chairman, CEO, CFO, Chief legal and Chief Human Resource have all agreed to $1 per year salary with stock bonus if we hit benchmarks."
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Old 06-03-2020, 02:33 PM
 
1,452 posts, read 1,497,887 times
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Some insider trading going on there, stock jumped from $10 to $33 the week of May 6th, wish someone would have told me
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Old 06-03-2020, 02:54 PM
 
Location: Casa Grande, AZ (May 08)
1,673 posts, read 3,798,639 times
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Quote:
Originally Posted by ajonesaz View Post
Some insider trading going on there, stock jumped from $10 to $33 the week of May 6th, wish someone would have told me
Oh, the CEO has been VERY public on Twitter with every details since the announcement this was pending.

Whether right or wrong - there are A LOT of people who think this Hydrogen model is definitely the way of the future for the trucking industry and have been waiting for the ability to invest.

Plus these guys are developing a Watercraft, ATV, and a Pickup truck (to compete with CYBERTRUCK). The pickup will also be electric/Hydrogen similar to the Semi Trucks. So lots of opportunity IF they can execute. 700 million plus new stock investment will help that process along.

It's all about whether the hydrogen tech will work. They just announced today also a 30 million dollar hydrogen order (they call them electrolyzers) with a company in Norway to supply the hydrogen for their first 5 super hydrogen stations....
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Old 06-03-2020, 04:27 PM
 
Location: Casa Grande, AZ (May 08)
1,673 posts, read 3,798,639 times
Reputation: 1389
So, I guess someone decided this was better in AZ forum? OK - the company HQ is in Phoenix but the factory will be in Coolidge.

I never know whether Casa Grande and environs activity should be in Phoenix or state forum. I myself consider us all Phoenix "exurbs" but I guess as we continue to grow in Pinal it will support it's own sub forum at some point.
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Old 06-04-2020, 09:46 AM
 
3,414 posts, read 7,664,926 times
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Would be cool to add another "C" to the 5C's - Cell fuel technology.
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Old 06-04-2020, 04:56 PM
 
Location: Alamogordo, NM
7,594 posts, read 7,170,754 times
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I hope this happens, nice to see some manufacturing efforts blossom here in the USA. Having some GM execs in the game is good, they should bring a lot smarts to the table.

I agree, Mike From Back East.
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Old 06-05-2020, 12:20 AM
 
Location: Saint Johns, FL
1,550 posts, read 1,251,144 times
Reputation: 1560
I hope this company succeeds. I really want to see trucking go green. But boy everything this guy touches has a "snake oil" feel to it.
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Old 06-05-2020, 06:53 AM
 
7,333 posts, read 4,565,853 times
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Quote:
Originally Posted by ajonesaz View Post
Some insider trading going on there, stock jumped from $10 to $33 the week of May 6th, wish someone would have told me
Pump and dump, make a ton of money in a little amount of time!

I'm not saying the execs did that here, but the CEO and other execs at Moderna, one of the companies making a coronavirus vaccine, cashed out tens of millions of dollars right when the stock spiked from some good preliminary results in the middle of May, before it dropped back down again later in the month.
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