Nikola Motors: $28B market cap. Zero revenue. One rolling truck. Now there's a settlement ongoing

If you were around in those moments of NKLA, here's what $28.8 billion actually represented:

* Trucks that weren't functional
* A promotional video of a truck rolling downhill under no power
* Hydrogen production cost claims that were fabricated
* Pre-orders that were largely non-binding
* "Proprietary technology" that didn't exist
* One founder who would later be convicted of securities fraud
* Zero revenue

September 2020: Hindenburg publishes their report. Milton resigns two weeks later. GM walks away. SEC investigates. Milton indicted. Milton convicted. Company files Chapter 11. Stock goes from $79 to **$0.18.**

Now there's an ongoing settlement for damaged investors. [Applications open now](http://11th.com/cases/nikola-invetor-settlement).

You're eligible if you held $NKLA between **June 4, 2020 and February 25, 2021.**

$28.8 billion for a truck rolling downhill, still the greatest valuation-to-reality gap in recent market history. Anyone here buy in on the hype?