Hyperdrive
Nikola Slumps After No-Details Denial of Short-Seller Report
- Company said allegations are false but didn’t provide evidence
- Chairman says Nikola spoke with SEC in ‘a formal call’
Source: Nikola Corp.
This article is for subscribers only.
Nikola Corp. shares dropped 15% after the company issued a blanket denial of allegations made in a short-seller report without offering any specifics to refute allegations it lied about its technology and staged events.
The setback wiped out all gains in the stock since the company went public through a reverse merger in June.