Nikola Motor Company Two truck
Source: Nikola Motor Company
(This story is for CNBC Pro subscribers only.)
Aswath Damodaran, the New York University finance professor, on Friday advised investors to stay away from shares of Nikola Corporation, a speculative electric vehicle stock.
"Nikola exists to make Tesla look cheap," Damodaran, known as the "dean of valuation" for his company analyses, said on CNBC's "Power Lunch." "That's one good thing for Tesla. Now, you have something to point to and say, 'Look, we're cheap relative to Nikola.'"
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