Hungarian Film

Main Menu

  • Home
  • Motion Picture
  • Movie Theater
  • Movie
  • Cinema
  • Accounts

Hungarian Film

Hungarian Film

  • Home
  • Motion Picture
  • Movie Theater
  • Movie
  • Cinema
  • Accounts
Accounts
Home›Accounts›Why Nikola Stock dived today

Why Nikola Stock dived today

By Anita Leet
March 11, 2021
0
0
Share:

What happened

Actions of Nicolas (NASDAQ: NKLA) fell sharply on Thursday after Hindenburg Research released a scathing report on the electric truck maker. As of 11:15 a.m. EDT, Nikola stock was down 10%.

So what

Hindenburg Research – a famous short seller – accused Nikola of being “a complex fraud based on dozens of lies” in his report released today.

“We have gathered a great deal of evidence – including recorded phone calls, text messages, private emails and behind-the-scenes photographs – detailing dozens of false claims by Nikola founder Trevor Milton,” Hindenburg wrote. “We have never seen this level of deception in a public company, especially of this size.”

Nikola shares fell on Thursday following a report from short seller Hindenburg Research. Image source: Getty Images.

The report goes on to say that Nikola has repeatedly exaggerated its battery and fuel cell technology beyond its true capabilities and overestimated its progress towards developing its electric truck.

Hindenburg also argues that Nikola’s recent $ 2 billion agreement with auto giant General Motors (NYSE: GM), which will supply the batteries and fuel cells for its electric semi-trailer trucks, provides further proof that Nikola has inflated its own technological capabilities.

Now what

Nikola founder and executive chairman Trevor Milton responded to Hindenburg’s report on Twitter saying “Is that all you’ve got?” He also promised to respond in more detail to Hindenburg’s “lies” later today.

It makes sense. Tens of millions of shares were sold short on the last day or two to slam our shares and hit the job by Hindenburg. I guess everything is a fair game in war, even a successful job. I know who funded it now. Give me a few hours to prepare answers to their lies. Is that all you got?

– Trevor Milton (@nikolatrevor) September 10, 2020

Nikola shareholders are no doubt eagerly awaiting Milton’s rebuttal, which could help the stock bounce back, according to what he has to say.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are heterogeneous! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

Related posts:

  1. Stock markets rise as marijuana stocks show new signs of life
  2. The Facebook ad boycott is not over
  3. Why the Trade Desk will benefit as advertisers seek flexibility
  4. Private Loans and Federal College Loans: What’s the Difference?
Tagscritically investingdecisions smartergetty imagesinvesting decisionsmotley foolthesis helps
Previous Article

What is a jumbo loan and how ...

Next Article

Wall Street believes 3 stocks will skyrocket ...

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Related articles More from author

  • Accounts

    Mick Mulvaney’s new fund to focus on investment strategy he says market lacks

    March 11, 2021
    By Anita Leet
  • Accounts

    Cost of living adjustments don’t hit the same mark if you claim social security early

    March 11, 2021
    By Anita Leet
  • Movie Theater

    Guide to drive-in theaters near Pittsburgh

    June 26, 2021
    By Anita Leet
  • Accounts

    3 reasons not to save on your 401 (k)

    March 11, 2021
    By Anita Leet
  • Accounts

    Luckin Coffee goes bankrupt with Chapter 15 filing

    March 11, 2021
    By Anita Leet
  • Accounts

    Chewy’s third quarter sales beat analysts’ forecast for sixth consecutive quarter

    March 11, 2021
    By Anita Leet

  • Movie

    The Flash movie reveals Michael Keaton’s Batman

  • Motion Picture

    Slog PM: Uvalde victim’s husband dies of heart attack, Seattle loses people, actor who played Paul Schell in major movie is dead – Slog PM

  • Cinema

    Acclaimed directors on the small screen

Categories

  • Accounts
  • Cinema
  • Motion Picture
  • Movie
  • Movie Theater

Recent Posts

  • Karan Johar claims Aamir Khan is responsible for loss of tone in Hindi cinema
  • New Digimon Movie Will Feature First Partner DigiDestined
  • Steve Carell’s 7 Best and 7 Worst Movies, Ranked
  • Dolby Cinema vs. IMAX — Which offers a better theatrical experience?
  • Hitchcock Classics at Landmark’s E Street Cinema

Archives

  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • March 2021

Recent Posts

  • Karan Johar claims Aamir Khan is responsible for loss of tone in Hindi cinema
  • New Digimon Movie Will Feature First Partner DigiDestined
  • Steve Carell’s 7 Best and 7 Worst Movies, Ranked
  • Dolby Cinema vs. IMAX — Which offers a better theatrical experience?
  • Hitchcock Classics at Landmark’s E Street Cinema

Archives

  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • March 2021

Categories

  • Accounts
  • Cinema
  • Motion Picture
  • Movie
  • Movie Theater
  • Privacy Policy
  • Terms and Conditions