Nikola Founder Replies to Deutsche Bank Warning
One day after a major Wall Street analyst sounded a cautionary note about the stock of Nikola (NASDAQ: NKLA), the founder and executive chairman of the would-be electric truck manufacturer did his darnedest to combat the negative news with an early afternoon tweet reminding everyone that July 23 is the day Nikola will break ground on its first factory.
Nikola stock shed 4% of its market cap on Thursday, then lost a further 7% on Friday morning in response to Deutsche Bank initiating coverage of the stock with a hold rating. Deutsche warned that while Nikola's story sounds good, investors are taking on a "large execution risk" with a revenue-less electric truck maker that has yet to make a single truck.
And so today, Nikola founder and executive chairman Trevor Milton reasserted his promise to execute.
Source Fool.com
