High-flying Nikola Corp. (NASDAQ: NKLA) came back to earth Thursday as early investors in the electric truck startup sold discounted shares at a handsome profit.
With lockup provisions lifted, investors in a private investment in public equity (PIPE) with VectoIQ were allowed to sell most of the 53.3 million shares purchased for $10 each before the special purpose acquisition company (SPAC) became Nikola in a reverse merger on June 2.
Nikola shares closed down 13.22% at $57.69 Thursday as PIPE...
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