Hyperdrive
Nikola’s Stock Selloff Accelerates as Shares Fall Below $10
- Electric-truck maker trades at lowest since December 2018
- Collapsed GM deal, inaccurate statements weighed on stock
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Nikola Corp. shares fell Tuesday to the lowest since December 2018, accelerating a selloff that has now erased all their gains since the electric-vehicle startup went public via blank-check company last year.
The electric-truck maker -- once briefly more valuable than Ford Motor Co. -- closed down 6.2% at $9.65 in New York, bringing it below the $10 level at which VectoIQ Acquisition Corp., the special-purpose acquisition company that acquired Nikola, debuted in June 2018.