Stock price

Nikola asks customers to return electric trucks at risk of fires

Nikola Corp. is asking dealers and customers to return battery-electric trucks under recall for possible battery fires to its Coolidge, Arizona plant despite the company still working on a fix.

“We’re bringing them back to Coolidge for repairs to be made instead of in the field,” spokesman Dan Passe told FreightWaves in an email Saturday.

“We are able to keep a very close eye on all non-used vehicles (either from inventory or customers who are not running them daily) if they are on site in...

https://www.freightwaves.com/news/nikola-asks-customers-to-return-electric-trucks-at-risk-of-fires

Investors hammer Rivian stock after Amazon, Stellantis deal

Rivian stock falls after Amazon Stellantis deal

The darling of the electric vehicle world at the end of 2021, Rivian is facing a hard reality in the new year after its shares have tumbled more than 20%, falling below its initial public offering price, since Wednesday.

Rivian (NASDAQ: RIVN) shares fell 11% on Wednesday following news of an Amazon agreement to purchase battery-electric Ram ProMaster vans from Stellantis. The stock had fallen as much as 16% in midmorning trading Thursday below its IPO price of $78 before clawing back some of the...

https://www.freightwaves.com/news/investors-hammer-rivian-stock-after-amazon-stellantis-deal

Uber eyes positive Q3 EBITDA, shares jump 6% premarket

Uber aims for profitability and raises outlook

In some big news for the rideshare giant, Uber on Tuesday revised its Q3 2021 outlook and now expects earnings before interest, taxes, depreciation and amortization to be positive as early as this quarter. Shares of the company’s stock jumped north of 6% on premarket movement on the New York Stock Exchange Tuesday morning.

In an SEC filing, Uber (NYSE: UBER) said that it now expects EBITDA for the current quarter to come in somewhere between a $25 million deficit and a $25 million profit, a...

https://www.freightwaves.com/news/uber-eyes-positive-q3-ebitda-shares-jump-6-premarket

Nikola shares crater as early investor lockup lifts

Shares in electric startup Nikola Corp. (NASDAQ: NKLA) cratered for a second consecutive day Tuesday. Early investors sold shares on their first day freed from lockup.  

Shares closed at $17.37, down $3.04 or 14.89%. Trading was 2.5 times the company’s average. A total of 161 million shares, about 45% of equity in the company, was newly available. Most of those shares — 91.6 million — are owned by founder Trevor Milton. It was unknown how many shares Milton may have sold. At their nadir, shares...

https://s29755.pcdn.co/early-investors-exiting-electric-truck-startup

Trevor Milton can dump his Nikola stock on Monday — will he?

Nikola Motor Corp. (NASDAQ: NKLA) founder Trevor Milton no longer makes decisions for the startup electric truck maker. But he still wields significant influence. On Monday, he can sell his 91.6 million shares, about a quarter of all outstanding shares. What will he do?

Milton isn’t saying.

If he sells a large portion or all of his shares, the price of the already volatile stock likely would fall. A sudden glut could overwhelm the number of prospective buyers. 

“I can’t comment for Trevor,” Nikola...

https://s29755.pcdn.co/news/trevor-milton-can-dump-nikola-his-stock-on-monday-will-he

Nikola’s hunt for hydrogen station partner stalled – WSJ

Nikola Corp. (NASDAQ: NKLA) promised investors it would name a co-developer for its hydrogen fueling stations by the end of the year. Talks have stalled because of a short seller report attacking the integrity of the company’s founder, The Wall Street Journal reported Wednesday.

The Journal report kept pressure on Nikola’s stock price. Shares were trading 10.84% lower at $25.42 intraday Wednesday. They have plummeted from their intraday high of $93.99 on June 8, a few days after going public in...

https://www.freightwaves.com/news/embattled-nikolas-hunt-for-hydrogen-station-partner-stalled-wsj

Minting millionaires and building buzz at Nikola

Nikola Corp. Executive Chairman Trevor Milton believes buzz-building creates long-term value for the electric truck startup. So, even if publicity was not a goal of his recent gift of 6 million of his shares to several dozen early employees, he’s fine with the attention.

“I think it’s important for every company in the world to stay in front of their followers, and their investors, and their clients, and their customers,” Milton told FreightWaves. “Investors in this generation want to be kept up...

https://s29755.pcdn.co/news/minting-millionaires-and-building-buzz-at-nikola

Profit-taking early investors hammer Nikola stock price

Nikola executive chair with Budweiser Clydesdales

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...

https://s29755.pcdn.co/news/profit-taking-early-investors-hammer-nikola-stock-price