CNHI Owns 7.11% of NKLA - Weekly Chart Bullish, Undervalued

HotCharts Updated   
NYSE:CNHI   CNH Industrial N.V.
Folks, this news is listed under Worthington Industries (WOR) trading at $35.24 with a small market cap of only $1.96 Billion

"KeyBanc Believes Recent Nikola Motors IPO Creates Added Source Of Potential Liquidity Value For Worthington Industries, Says 'While WOR has limited materials content/ties to Nikola itself, the Company owns 19M shares of the stock..."

Worthington Industries only has $103.43 million on hand (Source: Yahoo Finance) - Current Ration: 2.15

CNHI Industries has $3.51 Billion on hand (Source: Yahoo Finance) - Current Ration: 3.61 (Very Strong Financially)

If KeyBanc thinks Worthington Industries is a good investment because of the 19 million shares of Nikola they own, imagine what CNHI is worth owning over 25 million shares of Nikola and a market cap of over $10 Billion?

I am re-posting this because I truly believe investors are missing the boat by not buying CNHI at its undervalued price of $7.00.

On 3/26/2020, Worthington Industries reported earnings...Horrible numbers they were... Q3 EPS $0.27 DOWN FROM $0.46 YoY, Sales $746 M, MISSED $775.5 M Estimate.

On 5/6/2020, CNH Industries reported earnings...Q1 Adj. EPS $0.060 Misses $0.070 Estimate, Sales $5.500 BILLION BEAT 5.340 BILLION Estimate.

We are talking about a company, CNH Industries, with billions of dollars in sales, and owning over 25 million shares of Nikola and sitting at $7.00 today.

The logic is so disconnected, it's amazing.

Today, with the market down, investors were slowly accumulating the stock of CNHI. I truly think the stock will spike soon given the partnership CNH has with Nikola and the 25+ million share ownership they have.

In the KeyBanc notes, they tell investors Worthington Industries has "NO TIES" to Nikola, they just own 19 million shares.

CNHI is a partner with Nikola in the electric truck development and in the charging stations rollout. CNH Industries has strong ties / connections to Nikola and will be the company to benefit, not Worthington.

You cannot compare a company with $775 million in sales trading at $35.24 with a company that has $5.500 Billion in sales trading at $7.00

The weekly chart on CNHI looks Bullish

It's just a matter of time, I think CNHI is going to double if not triple.

CNHI upgraded this morning.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.