Why Nikola Stock Is Rolling Downhill Again Today
Shares of embattled electric-truck start-up Nikola (NASDAQ: NKLA) opened lower again on Thursday, after a once-bullish analyst cut his rating and price target for the stock.
As of 10 a.m. EDT, Nikola's shares were down about 13.5% from Wednesday's closing price.
Nikola's stock has been under intense pressure since short-selling firm Hindenburg Research released a report on Sept. 10 alleging that the start-up misled investors. The company's failure to respond convincingly to the allegations -- and the abrupt departure of founder Trevor Milton early Monday morning -- have only accelerated the stock's downhill slide.
Source Fool.com
