Nikola Stock Falls 14 Percent after CEO Downplays Badger Truck Plans
Freeman writes:
https://arstechnica.com/cars/2020/10/nikola-ceo-downplays-badger-truck-as-gm-negotiations-drag-on/
Nikola CEO Mark Russell downplayed the company's Badger pickup truck in comments to the Financial Times on Thursday.
"The Badger was an interesting and exciting project to some shareholders, but our institutional shareholders are mostly focused on the business plan," Russell said. "Our core business plan since before we became publicly listed always focused on heavy trucks and hydrogen infrastructure."
Russell's comments were published after markets closed on Thursday. Nikola's stock price plunged on Friday morning and is currently down about 14 percent for the day.
Previously:
Nikola's Deal With GM Was Supposed to Close Today-It Didn't
Nikola Founder Bought Truck Designs From Third Party
As recently as September 8, 2020 the stock was trading at $50.50
Read more of this story at SoylentNews.