Wednesday, September 2, 2020

Now It Makes Sense: The CNBC Crawler And SHLL Earlier Today -- But I'm Running Out Of Fingers And Toes -- September 2, 2020

I'm running out of fingers and toes.

"Hi, Hyliion."

Remember this post and a similar one posted about the same time?

I'm sure everyone is aware of the 6% drop in TSLA today.

This from earlier today

Electric vehicle companies are enjoying an incredible moment in 2020, spearheaded by Tesla (TSLA), which saw shares surge 600% from their March lows, and Chinese rival Nio (NIO), also enjoying a similar 700% pop.

Investors also battled over shares in electric truck maker Nikola (NKLA) earlier this year, which debuted via a special purpose acquisition company (or SPAC) in June as shares spiked about 110% in the week following its debut.

Now, yet another Tesla rival is looking to make its public debut — this time in the form of Austin, Texas-based electric trucking company Hyliion.

The company announced in June it would be following Nikola’s lead by going public via a reverse merger with Tortoise Acquisition Corp. (SHLL) to trade on the New York Stock Exchange in a deal the company said would net $560 million in proceeds.

But rather than start by only manufacturing electric trucks from the ground up, Hyliion is taking a different approach by offering to retrofit existing trucks with its electric drivetrain.

“What we're doing is actually focusing on the drivetrain of the vehicle as opposed to re-inventing the entire vehicle from the ground up,” Hyliion CEO Thomas Healy tells Yahoo Finance’s YFi PM. “The benefit of this is it's a lot quicker of a development.”

I don't now if CNBC addressed this company today (I had CNBC on mute) but SHLL was "all over" the crawler today.  As far as I know, Phil LeBeau spent a lot of time on TSLA and F but failed to mention this one. 

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