Nikola Founder Resigns. Stock Trouble on the Horizon?

Trevor Milton stepped down as executive chairman. Milton has also resigned from the company’s board, Nikola said in a statement.

“The focus should be on the company and its world-changing mission, not me,” Milton said in a statement posted on Twitter. “I intend to defend myself against false accusations leveled against me by outside detractors.”

Nikola’s stock skyrocketed after the startup joined the Nasdaq through a reverse merger with a so-called “blank check” acquisition company in June. Shares dropped 35% in premarket trading on Monday.

The news could also spell trouble for General Motors (NYSE:GM), which recently took an 11% stake in Nikola and said it would produce its marquee hydrogen fuel cell electric pickup truck called the Badger.

Image Credit : Nikolamotor


Follow us on Google news for more updates and News










PLEASE READ THE IMPORTANT DISCLOSURES BELOW.

This content is being provided to you for informational purposes only. The content has been prepared by third parties not affiliated with CWEB Inc, a business. This content and any information contained therein, does not constitute a recommendation by CWEB to buy, sell or hold any security, financial product or instrument referenced in the content. This information neither is, nor should be construed as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. CWEB Inc. does not offer or provide any opinion regarding the nature, potential, value, suitability or profitability of any particular investment or investment strategy, and you shall be fully responsible for any investment decisions you make, and such decisions will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.

Unless stated otherwise, the web content provided by the CWEB family of companies is for educational purposes only. The information and tools provided neither are, nor should be construed, as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. or its affiliates. Unless stated otherwise, no information presented constitutes a recommendation by CWEB Inc. or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy.

Full Disclaimer


>