With electric-truck startup Nikola Corp., investors seem to be betting they have found the next Tesla. Living up to the hype might be a challenge. One week into its life on Nasdaq, Nikola boasts a market value of $23.5 billion, not far behind Ford. Not bad for a company that doesn’t expect to make any revenue this year. The reverse merger that gave Nikola its public listing on June 4, which was agreed to back in March, valued its equity at just $4 billion.

Source: Wall Street Journal June 11, 2020 12:20 UTC