NKLA stock shorting

Discussion in 'Nikola' started by bwilson4web, Jul 1, 2020.

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  1. bwilson4web

    bwilson4web Well-Known Member Subscriber


    I recently tried to SHORT the NKLA stock and discovered:
    • Excessive borrowing interest, +260%
    • Stock owners can earn the interest as income for 'loaning' their stock
    • Most of NKLA stock is held by insiders
    This makes NKLA toxic as it may be part of stock scam to fleece SHORT investors. I'm not a fan of SHORT sellers but in this case, it looks 'suspicious.' No, I'm not contacting the SEC but if my worst fears are realized . . .

    Bob Wilson
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  3. ericy

    ericy Well-Known Member

    I have never shorted before, so I never knew any of the specifics. I had no idea that it was even possible to charge that kind of interest rate.

    Aren't these insiders prohibited from selling for some period of time?
  4. bwilson4web

    bwilson4web Well-Known Member Subscriber

    It was my first attempt to SHORT but Vanguard would not let me place the order. Eventually I found out why, the excessive interest rate on borrowed stock. So I put the money from $1,020/share TSLA back in at $990 ... $30/share profit. Looks like TSLA has gone up a little more today, ~$1,114.21.

    Bob Wilson

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