The comments of current CEO Mark Russell have left investors little choice but to abandon ship as the stock dropped another 16% on Friday to close this terrible week at $19.55. Nikola (NKLA) May Be Able To Get Past the Current Confidence Crisis if It Is Able To Close the Partnership Deal With General Motors (GM) Soon, Nikola (NKLA) Tries To Halt Its Plunge Into a Theranos-Style Abyss of Infamy by Offloading Its Controversial Executive Chairman Trevor Milton, Nikola (NKLA) Should Salvage What Is Left of Its Tattered Reputation by Offloading Its Flamboyant Executive Chairman Trevor Milton, Nikola (NKLA) Receives Another Bruising Volley From Hindenburg Research Which Terms Its Yesterday’s Rebuttal as Having “Holes Big Enough To Drive a Truck Through”, Nikola (NKLA) Shares Remain in the Spotlight as the Company Finally Publishes a Rebuttal and Wall Street Jumps Into the Fray With Endorsements, Report: NVIDIA Only Meeting 7.4% Of Demand Right Now, RTX 3070 To Have Limited Quantity As Well, Intel Shares Soar & Drop Following Rumored $10 Billion NAND Flash Unit Sale To SK Hynix, Alleged AMD EPYC Milan “Zen 3” CPU Engineering Sample CPU-z Spotted, Single-Core Performance Reportedly On Par With Top Xeon CPUs. All rights reserved. However, short seller Hindenburg Research accused of multiple instances of fraud in September, leading to Milton's resignation as the executive chairman of the company, even as he denied the allegations. The company notes … “The Badger was an interesting and exciting project to some shareholders, but our institutional shareholders are mostly focused on the business plan,” Russell said. Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. Trevor Milton's resignation may signal the end of the Nikola hype machine. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. Faraday Future the latest EV player to aim for SPAC merger. This litany of adverse developments has been hammering Nikola’s shares. 50-bar SMA offers immediate support, 200-bar SMA adds to the downside filter. Benzinga does not provide investment advice. Nonetheless, critical partners of the troubled company – General Motors and Bosch – still appear to be backing Nikola. at Benzinga Fri, Oct. 09. Find real-time NKLA - Nikola Corporation stock quotes, company profile, news and forecasts from CNN Business. Moreover, Ives believes that the battery innovations announced by Tesla during its recent Battery Day event bolstered the case for a downgrade by reducing the comparative attractiveness of EVs powered by hydrogen fuel cells. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com. Is The Nikola Badger About To Be Roadkill? Nonetheless, back in April, Nikola did win a small victory as the USPTO had refused Tesla’s request to force Nikola to modify its patents. At this point, the all-time low of $10.20 is firmly within reach and if no news on the pending deal with General Motors (NYSE:GM) is released, it may head even lower than that. Nikola upgraded by JPMorgan on 3 upcoming catalysts after falling 57% from record highs (NKLA) Matthew Fox. --nothing, late next year nkla and cnh/iveco will be. Below are the latest news stories about Nikola Corp that investors may wish to consider to help them evaluate NKLA as an investment opportunity. “What … Full story available on Benzinga.com. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. Industry Rank, Ranked of 29 GBP/USD is trading around 1.2950, off the highs as Brexit talks have yet to officially resume after a seesaw of reports. https://www.youtube.com/watch?v=WINkQ0FE4dA, https://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=nkla&insttype=&freq=&show, NKLA News: Nikola Corporation to Announce Third Quarter 2020 Financial Results on November 9, 2020, NKLA News: Nikola Celebrates National Hydrogen and Fuel-Cell Day 2020, NKLA News: Nikola Appoints Steve Shindler to Board of Directors, Nikola Corporation to Announce Third Quarter 2020 Financial Results on November 9, 2020, I bought into VTIQ @$10.88 shortly after I, GM partnership still likely--so says analyst from JP, This stock NKLAmid doing its favourite thing,moving sideways, " I think GM deal goes thru." AMD’s Full Ryzen 5000 “Zen 3” CPU Stack Pictured, Coming Soon To A Gaming PC Near You! It designs and manufactures battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen fueling station infrastructure. Of course, this is not the only damaging development to emerge for Nikola in recent days. Analyzing Nikola's Unusual Options Activity. ... Nikola Corporation (NKLA) Stock Sinks As Market Gains: What You Should Know. Other News Sources. A daily collection of all things fintech, interesting developments and market updates. It designs and manufactures battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen fueling station infrastructure. Buy & Hold Grade Most industry analysts will tell you no as Nikola has yet to even come close to manufacturing a product and are relying on OEM partnerships to build those out. • 4 Momentum Stocks With High Dividend Yields, Wall Street Breakfast: Trump Tests Positive For COVID-19, SHAREHOLDER ALERT: Law Offices of Timothy L. Miles Reminds Investors of Class Action Against Nikola Corporation (NKLA), Hyliion Struggles In First Day Of Post-SPAC Merger Trading, The Daily Dash: Questions Grow About Nikola's Badger; Federal Parking Survey Nears Completion, NKLA Shares Closed Up 17.72%, Nikola to Maintain Production Targets. What Happened: Russell sought to diminish the role Badger plays in the company's business — a stance diametrically opposite to Nikola founder and former Executive Chairman Trevor Milton, who had announced the truck in June, FT reported. (NKLA) ALERT: Nikola Corporation Investors Reminded of Class Action Deadline; Investors with Losses Over $200,000 Encouraged to Contact Firm - Johnson Fistel, LLP News provided by. As a refresher, Hindenburg’s attack against Nikola featured two main volleys. ROSEN, A TOP RANKED LAW FIRM, Reminds Nikola, it already happened....SPAC in NKLA's case was better imo, Gee?? For a few dollars more per share, investors can start a position in NIO which has a much more promising outlook for 2021. More recently, the Wall Street Journal reported that Nikola’s ongoing negotiations with several industry players, including BP, for the construction of hydrogen refueling stations had hit an unexpected roadblock following the souring of the sentiment against the company. NASDAQ:NKLA plummets by 16% during Friday’s trading session ending a hellish week. Stock analysis for Nikola Corp (NKLA:NASDAQ GS) including stock price, stock chart, company news, key statistics, fundamentals and company profile. The industry is well aware that GM is trying its hardest to save face after former CEO Trevor Milton stepped down after numerous accusations of fraud and deceit. Some posts on Wccftech.com may contain affiliate links. pic.twitter.com/Ft0QshNzCX, — Nikola Skeptic (@MotorSkeptic) September 23, 2020. Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions.Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. © 2020 Benzinga.com. What’s Next: Hyliion CEO Thomas Healy was interviewed on FreightWaves and he called being publicly listed “surreal.” When asked about the differences between Hyliion versus Nikola Corporation (NYSE: NKLA ) and Tesla Inc (NASDAQ: TSLA ), Healy said Hyliion helps people get the benefits of an electric vehicle without some of the negatives. Get, srm--"NKLA shown on their pr yesterday "--sorry--still do, NKLA shown on their pr yesterday they direct. Milton had pressed for the building of the truck in February, reasoning that the automaker had “billions worth of technology" in its semi-truck program, as reported by FT. Why It Matters: The reduced focus on Badger is the latest attempt to steer the company away from Milton's policies, noted FT. Milton had pitched the Badger as a potent rival to the Ford Motor Company's (NYSE: F) F-150 and Tesla Inc's (NASDAQ: TSLA) Cybertruck. Nikola Corporation, formerly VectoIQ Acquisition Corp., specializes in battery-electric and hydrogen trucks and powersports vehicles. It also does not guarantee that this information is of a timely nature. Shares began trading as Hyliion (NYSE: HYLN ) on Friday. In a profound development that has taken place over the last couple of hours, the patent counsel for Tesla (NASDAQ:TSLA) has now alleged that Nikola stole the design for its Nikola One truck: Nikola (NKLA) Shares Up Only Modestly as JP Morgan Publishes Its Latest Positive Note Regarding the Fate of the Embattled Company’s Partnership With General Motors, Nobody will ever believe this, but it appears Nikola actually stole the design for the Nikola One semi, as alleged by Tesla’s patent counsel in today’s filing. The two companies have until Dec. to finalize the deal. The Nikola (NKLA) story appears to be unraveling before our very eyes. Get pre-market outlook, mid-day update and after-market roundup emails in your inbox. Enjoy free access to the POWR Ratings for all stocks and ETFs on the quote pages. As an illustration, Wedbush analyst, Dan Ives, downgraded the company to an ‘Underperform’ rating. Nikola (NASDAQ:NKLA) falls sharply after CEO Mark Russell says he sees a path for the company even if it can't work out a deal with General Motors (NYSE:GM) on a strategic partnership. Tesla has consistently maintained that Nikola’s lawsuit has no merit. Plus, President Donald Trump signs a one-year funding extension for surface transportation programs, and a major survey on truck parking nears completion. Relative to the closing price of $34.19 last Friday, Nikola shares have registered a loss of around 45 percent over the course of this week! Nikola Corporation (NASDAQ: NKLA) CEO Mark Russell took distance from the company’s electric pickup truck Badger in an interview with the Financial Times on …
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