THE NEW TESLA COMPETITOR! Nikola Motors Going Public (Merger w/VectoIQ)
Shares of VectoIQ Acquisition (VTIQ) are exploding today. As of making this video, they are up around 25%. This was due to the pending merger between this company and a Tesla competitor called Nikola Motor Company.
VectoIQ is simply a holding company that is led by Stephen Girsky. He is well known in the automotive industry and is the the former vice chairman of General Motors.
On May 6th, Nikola Motor Company announced that they anticipate the merger between this holding company and Nikola Motor will be completed in the first two weeks of June. Investors are piling into the stock because Nikola Motor is poised to be a direct competitor to Tesla.
Full transparency here, I purchased 51 shares at a cost basis of $18.96 this morning for around $1,000.
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