Nikola shares are selling off pre-market in response to a new report from Hindenburg Research, which calls it an “intricate fraud” based on conversations with former employees.
“Today, we reveal why we believe Nikola is an intricate fraud built on dozens of lies over the course of its Founder and Executive Chairman Trevor Milton’s career,” the report claims.
“We have gathered extensive evidence—including recorded phone calls, text messages, private emails and behind-the-scenes photographs—detailing dozens of false statements by Nikola Founder Trevor Milton. We have never seen this level of deception at a public company, especially of this size.”
The report was followed by Tweets that appear to show various types of deception from the company. For example, one Tweet claims that Nikola’s “One” semi truck was just rolling down a hill in a video where the company claimed it was “in motion.
Nikola Shares Drop After Hindenburg Research Calls It A “Intricate Fraud”, Compares It To Theranos
Thanks for visiting Popular Crime. The story below is a summary we’re sharing from another news source, who did original reporting on the case.
Thanks to Hunt A Killer for this great deal
We’ve partnered with a terrific new immersive game experience for True Crime fans like us.
And for a limited time, they have let us know that readers or PopularCrime can take 20% off their first box by using the code POPULARCRIME at checkout. We hope you enjoy the game as much as we do and join us as we unravel the clues in the latest box every month.
Popular Crime pulls in news of current and historical true crime cases from all over the world. The above excerpted is reprinted here under the provisions of Fair Use. Any and all reporting was done by the original publisher. We encourage you to visit the original publisher.
For more information about our site, click here.