{"id":71713,"date":"2020-09-21T11:36:31","date_gmt":"2020-09-21T08:36:31","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nikola-stock-collapses-after-ceo-resigns-over-fraud-allegations\/"},"modified":"2020-09-21T11:36:31","modified_gmt":"2020-09-21T08:36:31","slug":"nikola-stock-collapses-after-ceo-resigns-over-fraud-allegations","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nikola-stock-collapses-after-ceo-resigns-over-fraud-allegations\/","title":{"rendered":"#Nikola stock collapses after CEO resigns over fraud allegations"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3f7b023d18c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3f7b023d18c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/nikola-stock-collapses-after-ceo-resigns-over-fraud-allegations\/#Two_EV_companies_named_after_the_same_human_being_What_could_go_wrong\" >Two EV companies named after the same human being? What could go wrong?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Nikola stock collapses after CEO resigns over fraud allegations<\/strong>&#8221;<\/p>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">watch Movies<\/a> or TV series visit the <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/dizi.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Dizi.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><img decoding=\"async\" src=\"https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2020\/09\/hindenburgnikola-796x448.jpg\" \/><\/p>\n<div>\n                                Nikola Corp\u2019s founder and chairman Trevor Milton resigned voluntarily as fraud allegations continue to dog the embattled electric truck maker.<\/p>\n<p>In his resignation letter posted to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>, Milton signaled his intent to distance himself from his\u00a0company, and promised to defend himself \u201cagainst false allegations levied against me by outside detractors.\u201d<\/p>\n<p>\u201cI will be cheering from the sidelines with you. Your greatest fan,\u201d Milton tweeted late Sunday night.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I will be cheering from the sidelines with you. Your greatest fan. <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/t.co\/IaYfZedYhK\">pic.twitter.com\/IaYfZedYhK<\/a><\/p>\n<p>\u2014 Trevor Milton (@nikolatrevor) <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/nikolatrevor\/status\/1307927801966866438?ref_src=twsrc%5Etfw\">September 21, 2020<\/a>\n<\/p><\/blockquote>\n<p>Milton\u2019s referencing a damning September 10 report released by short-selling crew Hindenburg Research that claimed Nikola was more of an \u201cintricate fraud\u201d than a leading US automaker.<\/p>\n<p>Nikola stock is currently down 26% during Monday\u2019s pre-market trade.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Two_EV_companies_named_after_the_same_human_being_What_could_go_wrong\"><\/span>Two EV companies named after the same human being? What could go wrong?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Nikola shot to prominence following its reverse merger to list on US stock exchanges in June. The company\u2018s share price doubled within its first week of trade, briefly valuing Nikola higher than the likes of Ford and Fiat-Chrysler despite not having\u00a0sold a single vehicle to date (Ford, on the other hand, sold 5.5 million vehicles in 2019).<\/p>\n<p><em>[Read:\u00a0How mysterious EV startup Nikola overtook Ford in one night \u2014 without selling a single car]<\/em><\/p>\n<p>However, the day after <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">General<\/a> Motors revealed it had struck a deal with Nikola to build its first electric truck, the Badger, short sellers Hindenburg Research released a report that details what they say is evidence of Milton\u2019s intricate fraud, titled \u201c<a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/hindenburgresearch.com\/nikola\/\">Nikola: How to Parlay An Ocean of Lies Into a Partnership With the Largest Auto OEM in America.<\/a>\u201d<\/p>\n<p>While the report is quite detailed, it most notably led to Nikola <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/nikola-sets-the-record-straight-on-false-and-misleading-short-seller-report-301129952.html#:~:text=The%20report%20from%20Hindenburg%2C%20an,%2Dyear%2C%20groundbreaking%20R%26D%20efforts.\">admitting it<\/a> had staged a promotional video in which its supposedly operational electric truck drove up a hill.<\/p>\n<p>Turns out, Nikola simply rolled its prototype\u00a0<em>down<\/em> a hill, reversed the footage and labeled it \u201cIn Motion,\u201d before using it as proof that its truck actually works.<\/p>\n<p>Nikola stock sank up to 40% in the weeks following as reports indicating both the <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2020\/09\/15\/nikolas-shares-fall-as-sec-reportedly-examines-short-sellers-fraud-claims.html\">US Securities and Exchange Commission<\/a> and the <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.cnet.com\/roadshow\/news\/nikola-us-department-of-justice-inquiries\/\">Department of Justice<\/a> were looking into the matter surfaced.<\/p>\n<p>Until now, industry analysts had mostly written Nikola\u2018s success off as a simple byproduct of electric vehicle hype, a newcomer buoyed by Tesla\u2018s wake, and dismissed Hindenburg\u2019s research as an overt plot to profit from a volatile, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>-cycle driven stock market.<\/p>\n<p>With Milton gone, both assumptions must now be heavily scrutinized.<\/p>\n<p class=\"c-post-pubDate\">\n                                    Published September 21, 2020 \u2014 08:36 UTC\n                                <\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><script data-src=\"https:\/\/connect.facebook.net\/en_US\/sdk.js#xfbml=1&amp;appId=378011798897423&amp;version=v2.6\" id=\"socialSrcFacebook\" type=\"text\/template\"><\/script><\/p>\n<blockquote>\n<p style=\"text-align: center;\"><strong>if you want to watch Movies or Tv Shows go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/dizi.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Dizi.BuradaBiliyorum.Com<\/a> <\/span> for forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more like this article, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/technology\/\" target=\"_blank\" rel=\"noopener noreferrer\">Technology category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/thenextweb.com\/hardfork\/2020\/09\/21\/nikola-stock-electric-vehicle-truck-badger-ceo-resign-hindenburg-research\/\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Nikola stock collapses after CEO resigns over fraud allegations&#8221; If you want to watch Movies or TV series visit the Dizi.BuradaBiliyorum.Com Nikola Corp\u2019s founder and chairman Trevor Milton resigned voluntarily as fraud allegations continue to dog the embattled electric truck maker. In his resignation letter posted to Twitter, Milton signaled his intent to distance himself&#8230;<\/p>\n","protected":false},"author":1,"featured_media":71714,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/img-cdn.tnwcdn.com\/image\/hardfork?filter_last=1&fit=1280,640&url=https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2020\/09\/hindenburgnikola.jpg&signature=1f725aef3a8326efb385412cca782155","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[],"class_list":["post-71713","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/71713","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=71713"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/71713\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/71714"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=71713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=71713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=71713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}