Nikola whistleblower enriched by short seller may get more $$$

Paul Lackey worked as a contractor for Nikola in the early days of the electric truck company. On the witness stand in Trevor Milton’s fraud trial this week, he spoke of a founder more interested in making money than cleaning up the environment. 

But Lackey wasn’t exactly a dream witness for the prosecution. He collected about $600,000 in stock sale proceeds after aligning himself with short sellers that nearly crushed the startup.

As the prosecution’s first witness on Tuesday in a trial expected...

https://www.freightwaves.com/news/nikola-whistleblower-enriched-by-short-seller-may-get-more

Nikola refutes short seller’s screed, share price rebounds

Nikola Corp. (NASDAQ: NKLA) refuted some specifics of a blistering report by a short seller that questioned the startup electric truck maker’s integrity. After continuing a three-day selloff before the stock market opened Monday, Nikola shares began rebounding.

The catalyst for the decline is a 67-page report by Hindenburg Research, which makes money by betting the stock price of companies it targets will fall. Short sellers borrow shares, sell them when the price drops, then buy them back to...

https://www.freightwaves.com/news/nikola-refutes-short-sellers-screed-share-price-rebounds