Nikola Corporation is an American company that has announced a number of concept zero-emissions vehicles since 2016 and has indicated plans to produce some of them in the future. The company is based in Phoenix, Arizona, where its research and development facility is located. The company is named after inventor Nikola Tesla.
As at September 2020, the company is under investigation by the Securities and Exchange Commission and the Department of Justice over securities fraud allegations.
Nikola (NKLA) stock closed 17.72% up following the company’s claims to maintain its production timeline. However, it is still unable to erase the over 35% loss suffered since the whole Hindenburg Research saga.
When the $2 billion deal with GM was announced, Nikola said it expected to close it before September 30. However, the companies have not managed to finalize the agreement.
NKLA stock price dropped yesterday. The fall is largely attributed to the report which claimed that Nikola is “an intricate fraud built on dozens of lies over the course of its founder and executive chairman Trevor Milton’s career.”
At Coinspeaker we use cookies in order to improve site performance, offer you a better browsing experience and enable you to easily share content.AcceptPrivacy policy
