Expand / Nikola Chairman Trevor Milton unveils the Nikola Only truck at December 2016. (charge: Nikola)
In June, aspiring hydrogen truckmaker Nikola turned into a publicly traded firm because of a merger using a special-purpose acquisition firm. That trade comprised a 180-day lockup for business insiders, made to keep them from dumping their stocks on unsuspecting traders in the very first couple of days of trading.
Today is the first day people insiders could sell their stocks, and Nikola’s stock price is down 15 percent. That is at the top of yesterday 26 percent decrease later Nikola announced it was canceling its Badger pickup truck.
Nikola’s inventory is currently down about 80% from the post-IPO full of June and down 65 percent considering September’s statement of this bargain with GM. The failure to close that deal, announced yesterday{} Nikola to depart the Badger.
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