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If I'm long $NKLA, the biggest thing that petrifies me this weekend is the lack of response from $GM on Thursday and Friday.
$GM had two full market days to respond and said nothing. If they had done extensive DD on $NKLA, surely they would have come out with a statement of support almost immediately? Their silence is deafening here.
Now the mainstream media is sinking their teeth into this story, which will force a response from $GM, likely on Monday.
If there is any hint of $GM taking another look into the deal, $NKLA is completely done (I think they are done anyways). This deal is quickly turning into an embarrassment for $GM, unless they know something that we don't.
On top of that, institutional holders of the stock will be reading Bloomberg, etc. this weekend. What do you think they are going to be doing on Monday morning? Adding more shares or dumping?
If I am running money for other people, I'm selling first and asking questions later.
