Potential companions have been reluctant to maneuver ahead with Nikola amid the heightened scrutiny, however a deal may nonetheless come collectively, a current report recommended.
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Nikola’s shares sank once more on Wednesday, falling 26 per cent to $21.15
Nikola Corp’s talks with vitality companies together with BP PLC to construct hydrogen-refuelling stations have been stalled following a short-seller’s allegations that the electrical automaker misled traders, the Wall Avenue Journal reported.
Potential companions have been reluctant to maneuver ahead amid the heightened scrutiny, however a deal may nonetheless come collectively, the report mentioned on Wednesday, citing folks conversant in the matter.
Nikola and BP didn’t instantly reply to Reuters requests for remark.
The electrical-truck maker’s shares sank once more on Wednesday, falling 26 per cent to $21.15.
Additionally Learn: Nikola Share Slump Deepens As Founder Resigns
In a scathing report two weeks in the past, short-seller Hindenburg Analysis mentioned it had sufficient proof to point out Nikola and its founder Trevor Milton made false claims in regards to the firm’s proprietary expertise to kind partnerships with automakers.
Following the allegations, Milton give up, however Nikola’s Chief Monetary Officer Kim Brady mentioned on Tuesday the corporate has the backing of all its present automotive companions.
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Nikola has publicly rejected the accusations and has threatened to take authorized motion towards Hindenburg.
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