Nikola stock tanks as GM deal hangs in the balance

Nikola stock tumbled after CEO Mark Russell failed to convince investors that they would be able to finalize a deal with GM. He also failed to reassure them that founder and former chairman Trevor Milton wouldn’t start unloading his shares next week when the lockup on them ends. Milton is Nikola’s biggest single shareholder.Q3 2020 hedge fund letters, conferences and moreNikola deal with GM still up in the airCNBC reports that in an interview on Mad Money with Jim Cramer, Nikola’s CEO said the talks for a $2 billion deal with GM were ongoing, but he wouldn’t provide any other comments beyond t…

Read More

HEDGE accordingly