Nikola reported "earnings" on Monday this week after the bell, but the focus wasn't on the $117 million net loss (on $0 revenue) the company generated, but rather the litany of subpoenas the company disclosed in its Form 10-Q for the third quarter.

Nikola disclosed in its filing that five of its officers and employees had received subpoenas from the SEC on September 14, 2020, just four days after short seller Hindenburg Research released their now infamous report calling the company an "intricate fraud".

The SEC tacked on additional subpoenas to three more officers and employees, and the company's directors, on September 21, 2020 and September 30, 2020, respectively.