Keep On Truckin’

[The beef 675] [I'm an image] “Nikola and Tesla... is Nikola Tesla’s estate seeing a dime of any of this?” - Jason Hey there carnivores, Markets were mixed on Tuesday with the Dow seeing it's first losing day in over a week and the Nasdaq hitting an all-time high... And today we’re talking about a new challenger in the EV game. Keep raging, Jeff & Jason [Image] [I'm an image] Shocking “That Nikola is so hot right now.” - [Mugatu]( How hot? Well, after Nikola’s stock surge this week, its $28.8B valuation is higher than Ford’s $28.794B and Fiat’s $20.5B… You read that right… an EV company that hasn’t produced a single vehicle has a higher valuation than the company that invented the car. So, who’s Nikola? $NKLA is an electric truck startup founded by Trevor Milton in 2015. It produces, er, plans to produce, battery-electric and hydrogen-electric trucks and [boasts over $10B]( in preorders already. Yeah, but did it ever [make tequila?]( The company's not expected to generate revenue until next year when it will start producing trucks for short-haul delivery. Trevor (because apparently his parents had already named his older brother Chad) tweeted out Sunday that the EV company will start accepting reservations for its zero-emission truck, the Badger, on June 29. Hit the market Nikola hit the public markets on June 4th following a reverse merger from a special purpose acquisition company (SPAC). WTF is [that](? After [splitting with VergeIQ]( and going public, shares doubled on Monday. Then on Tuesday things got interesting. NKLA rose 28% immediately after the opening bell, then dropped 22%, which halted trading due to volatility. It eventually recovered to close the day up 8.8% but [was down 8.4%]( after-hours. That’s what we call a wash, folks. I hope the trucks ride smoother than the stock trades. The bottom line... Investors are pitching tents at the mere thought that Nikola can become Tesla. And, sure, a company can try to disrupt the same industry and name itself after the same Serbian genius (Nikola Tesla for those of us still catching up), but will it ever be able to capture the same magic as TSLA? Probably not. Why? Because of the mad man behind the wheel, Elon Musk. We’re talking about a guy that actually builds cars, launches (manned) rockets into space, develops implantable brain-machine interfaces, builds underground tunnels for rapid rail transport, and still finds time to fire off dank *ss memes like a fourteen-year-old. But, seriously, good luck, Trev. [Image] Catching Breakout Stocks In Real-Time Has Never Been Easier [Alternate text]( Discover How The Octane Scanner Puts You In The Driver's Seat LIVE- Thursday June 11th @ 2 PM ET [Register Now]( [I'm an image] ☑️#trending. On Wednesdays, we wear pink. And when companies go into bankruptcy, we buy the stock… apparently. According to data from Robinhood, hundreds of thousands of retail investors (read: WFH employees like you and me) have flocked to stocks like Hertz, Chesapeake Energy, and Whiting Petroleum in hopes of making a quick buck. There are now a combined [247k people who own shares of the three](, to be exact. That's up from roughly 56k at the end of April. Companies going into bankruptcy are too risky for institutional investors but no problem for Johnny Day Trader. And the retail boom is helping the bankrupt companies’ stocks. The three above have gained 577%, 182%, and 152%, respectively after announcing their filings. This gives a whole new meaning to BTFD. ☑️Back in stock. Macy’s isn’t as f*cked as we all thought it was going to be from the impact of coronavirus. After announcing a fresh round of financing Monday night, the retailer said that [shoppers were coming back]( to stores quicker than expected. As of June 1, the retailer had 450 locations open and plans to open its flagship New York City store for curbside pickup this week. Just in time for wedding season… assuming there is one. With stores open and liquidity secured, Macy’s also gave a preview of its first-quarter earnings. The company expects $3.02B in sales, or a 45% decrease from the same quarter a year earlier. Earnings are expected to come in at a loss of $652M, or $2.10 per share. ☑️Closing up shop. While Macy’s might be seeing a rebound, there’s a large number of stores that [won’t be sticking around]( for the summer. Experts estimate that 25k retailers will be closing by the end of the year, with about 55% to 60% of those being in America’s malls. I swear if Auntie Anne’s closes for good… Obviously, this doesn't bode well for the malls themselves, who will have fewer stores to rent the space they offer. And it probably doesn’t help the situation that overall retail sales are expected to come in 10% lower for the year according to research company eMarketer. ☑️Billion-dollar weasel. Jho Low is back on his bullsh*t. Despite having authorities on high alert, the mastermind behind the 1MDB scam is still on the loose. And is [making shady deals in Kuwait.]( Low made connections with Kuwait's PM’s son, Sheikh Sabah, and business associate Bachar Kiwan in 2016. Using their money, Low helped facilitate transactions with his connections in China that were used to pay off some of his debts related to the total fleecing he performed on the Malaysian sovereign fund. After 2016, Kiwan himself fled Kuwait thanks to a soured relationship with Shiekh Sabah, who admitted no wrongdoing. The fact that Jho Low is running around Asia like some Stay Puft marshmallow supervillain is just hilarious. Low’s whereabouts are currently unknown but he was last seen six months ago… outside of Wuhan. 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