Nikola Hype Collapses, Shares Plunge Further, Founder/CEO Pushed Out. GM Swoons | Wolf Street

On September 10, Nikola got hammered by detailed allegations of short-seller Hindenburg Research that the company was “an intricate fraud built on dozens of lies over the course of its Founder and Executive Chairman Trevor Milton’s career.” In explaining its short position on the stock, Hindenburg Research summarized: “We have never seen this level of deception at a public company, especially of this size.”

Nikola Hype Collapses, Shares Plunge Further, Founder/CEO Pushed Out. GM Swoons | Wolf Street