Nikola founder Trevor Milton resigns following fraud allegations

Trevor Milton, the founder of electric truck startup Nikola, has stepped down as executive chairman following fraud allegations against the company.  Milton said "the focus should be on the company and its world-changing mission, not me." Stephen Girsky, a former vice-chairman of General Motors and a Nikola board member, will replace Milton. He will have […]

Analysts at JPMorgan and other firms say their view of EV startup Nikola remains unchanged, even after a blistering short-seller report called the company an 'intricate fraud built on dozens of lies

Nikola short-seller Hindenburg Research has alleged that the electric-truck startup "is an intricate fraud built on dozens of lies." Nikola denied many of Hindenburg's claims, but conceded some of them, including two instances in which it created the impression that non-operational truck prototypes could drive under their own power. Though Nikola's stock price has fallen […]

Nikola CEO explains the competition with Tesla

Washington, DC (CNN)Nikola stock rallied more than 22% Monday as the electric vehicle maker announced a deal to sell garbage trucks to a leading waste disposal company. Investors were undeterred that the actual truck hasn’t been built yet, and it’s unclear exactly what it will look like. A rendering of the truck’s cab, which both […]

Nikola Stock at Crossroads Amid Upgrade and Profit Taking

Nikola Corporation (NKLA) shares rose more than 7% during Wednesday's session after Cowen & Co. initiated coverage of the stock with an Outperform rating and a $79.00 price target. Analyst Jeffrey Osborne believes that the stock is an interesting opportunity that leverages one truck platform, two powertrain options, and three business segments with optionality in […]