Part 6/8:
As the months turned into years, the signs of distress at Nicola became clearer, especially following a notable Hindenburg report that raised allegations of fraud. This further fueled Stephen’s narrative that the company was built on shaky ground. Investors found themselves reassessing their positions, with stock prices plummeting. By September 2020, posts on social media warned that anyone buying into Nicola stock was failing an intelligence test—a poignant comment about the growing sentiment surrounding the company’s future.