$NKLA In fact, if anything I should lower my target price of $2.42, which in my Nov. article I said was the “net-net” value of the company. The “net-net” value is the amount of cash after deducting all interest-bearing liabilities. This implies that NKLA stock has much much further to fall. In fact, when Nikola releases its Q4 losses and share count the net-net number will likely be even lower. This is probably going to happen before the end of January. One thing is for certain. Almost every major deal the company announced when Trevor Milton was the CEO has gone up in smoke. In fact, I am not even sure the company’s net plant outside of Phoenix, which it is constructing, will have a lot of customers. That remains to be seen.