Nikola shares fall after short-seller calls it a ‘fraud’
Hindenburg alleges the electric truck group made false statements to form partnerships with large carmakers
10 September 2020 - 18:46
Detroit — Shares of Nikola fell 8% on Thursday after Hindenburg Research shorted the stock and labeled the electric truck maker a "fraud" in a scathing report, evoking a sharp response from the company, which accused the short-seller of manipulating the high-flying stock.
Hindenburg accused Nikola's founder Trevor Milton of nepotism and said it has gathered enough evidence to show that Milton made false statements to form partnerships with large carmakers...
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