Nikola shares surge after company delivers its first EV truck, says more to come
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Trevor Milton is the CEO and founder at U.S. Nikola. He speaks as Trevor Milton during the presentation of U.S. Nikola’s new hydrogen and full-electric battery trucks, in partnership to CNH Industrial. The event was held in Turin, Italy, December 2, 2019.
Massimo Pinca | Reuters
Nikola shares jumped 20% on Thursday after the The first electric truck manufacturer took delivery.
After the announcement of the company, the stock surged one day later. announced on TwitterThe company’s first delivery to customer has been completed, signaling that there will be more.
This week was earlier. Nikola said it agreed to paySecurities and Exchange Commission to pay $125 Million in Settlements for Fraudulent Investors.
Nikola was convicted by the SEC of misleading statements made Trevor Milton, Trevor Milton’s former chief executive officer and founder of the company. He plead guilty not guilty to fraud charges brought by the Justice Department in July.
Nikola was made public by a merger with an SPAC in June 2020. After the IPO, the stock reached a record-breaking $90 per share but was quickly relegated by the regulators.
Following Nikola, regulators were notified that a number pre-revenue EV start-ups tried to make SPAC deals and go public. Federal agencies investigated Nikola as a possible mislead investor.
— CNBC’s Tom Franck and Mike Wayland contributed reporting.
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