Why Nikola Stock Is Rolling Downhill Today
Shares of electric-truck start-up Nikola (NASDAQ: NKLA) opened sharply lower on Wednesday, on growing concerns about potential insider sales when a lockup period expires next week, and on continuing questions about the status of the company's partnership with General Motors (NYSE: GM).
As of 10:30 a.m. EST, Nikola's shares were down about 13.7% from Tuesday's closing price.
Appearing on CNBC's Mad Money program on Tuesday evening, CEO Mark Russell said that while Nikola remains interested in GM's electric-vehicle batteries and hydrogen fuel cells, the companies have yet to close a deal. Russell confirmed that Nikola's discussions with GM are still ongoing, but said that he couldn't comment on the state of those discussions.
Source Fool.com
