nikola motors stock news

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. "The company answered none of the 53 questions we raised in our report after promising a full rebuttal.". Hacked – Protection against online Abuse and Cybercrime. ", Detroit News Reporter Kalea Hall contributed. "Nikola has been vetted by some of the world's most credible companies and investors," Nikola said in a statement Thursday. Shares of Nikola fell as much as 13%, to $37.05, while shares of General Motors fell as much as 2%. GM tentatively agreed to take an 11% stake in Nikola as part of a cash-free deal made public last month. GM delays Nikola deal closing date after stock price tumbles, Hindenburg Research released a lengthy report, Trevor Milton has stepped down from his post, Elon Musk posts optimistic update amidst Tesla’s end-of-Q3 push, Mars study reveals subsurface water in Red Planet’s vast lake system. "For GM it's all about selling more of the product that they're planning to build," Abuelsamid said. This is bad news for General Motors, which recently entered into an agreement with the company. All Rights Reserved. The company's stock closed down 14.5% Friday, following a​n 11% plunge Thursday. Earlier this week, oil major BP quit as a partner in a deal where it would collaborate in building a network of hydrogen refueling stations. The Badger wasn’t mentioned in a statement Wednesday outlining Nikola’s strategy and vision. See the new Grand Wagoneer, See Ram's 702hp pickup that's taking on the Ford Raptor, Check out Lyriq, the first fully-electric Cadillac, You can't drive this new Lamborghini supercar down your street, Bugatti made a car for kids that costs more than yours, The 2020 Stingray marks a new era of Corvettes, See the Dodge Durango SRT Hellcat with 6 seats and 710 horsepower, Ford unveils first full hybrid pickup truck, $2 billion stock deal with General Motors, The company went public earlier this year, General Motors takes 11% stake in Nikola to team up on electric truck. With such uncertainty over the company’s future, investors are likely to vote with their feet. General Motors Co. is considering revisions to its deal with embattled Nikola Corp., according to people familiar with the discussions, and may seek a higher stake in the startup now that its valuation has fallen after allegations of deception. About half of the stake’s value has now been wiped out. Factset: FactSet Research Systems Inc.2019. Additionally, shareholder lawsuits are being filed left, right, and center, further compounding Nikola’s legal problems. Per the agreement between the two parties established on Sept. 3, Nikola was going to sell 47,698,545 shares of its common stock to GM Holdings. News, Events & Presentations. Most stock quote data provided by BATS. Morningstar: © 2019 Morningstar, Inc. All Rights Reserved. All website content is the property of Nikola Corporation and any use, dissemination or republication is prohibited without the written consent of Nikola. All rights reserved. The stock information provided is for informational purposes only and is not intended for trading purposes. EV-startup Nikola accused of 'deception' by short-seller, Your California Privacy Rights / Privacy Policy. The company has since disputed the report and threatened to take legal action. Give me a few hours to put together responses to their lies. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Since the deal was announced on Sept. 8, Nikola stock has fallen by more than half and GM has sought better terms before closing, said the people, who asked not to be identified because the discussions are private. © 2020 Cable News Network. Colleen Robar 313.207.5960. CNN was unable to authenticate the claims made in Hindenburg's report. All rights reserved. Disclaimer: The opinions expressed in this article do not necessarily reflect the views of and should not be considered investment or trading advice from Request processing. Most stock quote data provided by BATS. Overall, GM said on Sept. 8 it expected to "receive in excess of $4 billion of benefits between the equity value of the shares, contract manufacturing of the Badger, supply contracts for batteries and fuel cells, and EV credits retained over the life of the contract.". Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. This is bad news for General Motors, which recently entered into an agreement with the company. If you see a breach of our Code of Ethics or find a factual, spelling, or grammar error, please contact us. CCN – Capital & Celeb News, also known as CCN Markets, CCN, and, is a global news site with journalists in the U.S., UK, Europe, and Asia. The deal "has always been heavily stacked in GM's favor. Allegations continue to come out about Milton’s conduct, and CNBC reported yesterday that two women had filed sexual abuse complaints against him. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. The stock information provided is for informational purposes only and is not intended for trading purposes. The stock information is provided by a third party service, and Nikola does not maintain or provide information directly to this service. Here is why the prospects for Nikola stock are increasingly looking grim: Nikola’s business model involves joining hands with partners for the supply of vehicle components, manufacturing, and setting up a fueling/recharging network. Tens of millions of shares shorted the last day or two to slam our stock and hit job by hindenburg. Critics of short sellers, such as Tesla CEO Elon Musk, have alleged that short positions incentivize market manipulation. VectoIQ was run by Stephen Girsky, a former GM vice chairman who helped broker the partnership between GM and Nikola and now serves as vice-chair of the startup. ", "We stand by our research 100%," Hindenburg said in an email to CNN. It saw a massive, 10-year contract that would allow GM to share technology and parts with Nikola. The partnership has most likely been delayed after Nikola’s stock price has fallen significantly after a report indicated that the automaker could have misled shareholders. Thank you. The stock information is provided by a third party service, and Nikola does not maintain or provide information directly to this service. Hindenburg is betting against Nikola’s stock price, which means it gains if the stock falls.

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