I think the IPO for NKLA was $37.55 this month. It is down to $65 and probably will continue its steady path to below $37.
This is shades of the mania to the late 1990s. I never bought into it fortunately other than losing a few thousand and about 50% with a technology mutual fund.
Remember the Sock Puppet from Pets.com ? Remember Webvan ? Remember Internet America ?
Unfortunately, it will probably increase in price longer than I can keep buying Puts.