It's true that I haven't done much due diligence on Nikola. I read 7-8 articles and didn't learn much. Trevor Milton seems like a t-w-a-t and might be a charlatan. But hopefully GM did plenty of due diligence to have believed in it enough to invest $2 billion. But maybe GM was hoodwinked because they were desperate to compete with Tesla. If GM can be bamboozled, what chance do I have of understanding a motor company from doing due diligence on the innerwebs?
When I day trade, I invest because I believe the stock price hit a bottom and will bounce back, not because I believe in a company. It has more to do with what I think investors are going to do than anything I could learn from studying a company.