Trevor Milton Archives - Page 10 of 10

Nikola stock down 20% on founder’s departure

21 September 2020

Shares of electric truck maker Nikola Corp. (NASDAQ: NKLA) finished the day down nearly 20%, following the resignation of founder and Executive Chairman Trevor Milton on Monday. His resignation stems from concerns over a short seller report questioning the validity of the company’s battery and hydrogen fuel cell claims.

In recent days, the Phoenix-based company has been embroiled in a very public battle with Hindenburg Research and its report, which alleges an “intricate fraud” by Milton and...

https://s29755.pcdn.co/news/nikola-stock-down-20-on-founders-departure

Steve Girsky replaces Trevor Milton at embattled Nikola

21 September 2020

Nikola Corp. (NASDAQ: NKLA) Executive Chairman Trevor Milton is out at the electric truck startup he founded following a brutal report 10 days ago by a short seller of Nikola stock that accused him of lying about the company’s technology accomplishments.

FreightWaves first reported Milton’s departure late Sunday evening. Nikola’s official statement confirming the report was released shortly before 2 a.m. EDT Monday.

Milton approached Nikola’s board of directors and asked to step aside, the...

https://s29755.pcdn.co/news/nikola-founder-out-in-latest-short-seller-report-fallout

Update: Nikola Motors’ Trevor Milton makes resignation official

21 September 2020

Nikola executive chair with Budweiser Clydesdales

On late Sunday night, FreightWaves broke the story of Trevor Milton voluntarily stepping down from the Nikola Motors (NASDAQ:NKLA) board. A few hours later, Nikola Motors made the resignation official in a press release:

Nikola Corporation (NASDAQ: NKLA) today announced that Trevor Milton approached the Board of Directors and proposed to voluntarily step aside as Executive Chairman and from the Board. The Board accepted his proposal, and Stephen Girsky, former Vice Chairman of General Motors...

https://s29755.pcdn.co/news/update-nikola-motors-trevor-milton-makes-resignation-official

Nikola will truck hydrogen to stations when electricity costs too much

17 September 2020

As media coverage dies down on a short seller’s report questioning Nikola Corp.’s integrity, company executives are making the rounds of analyst events. They are touting the startup electric truck maker’s business case, including new details of its network of hydrogen stations.

Nikola (NASDAQ: NKLA) is silent on whether the U.S. Securities and Exchange Commission (SEC) and the U.S. District Court for the Southern District of New York (SDNY) are investigating allegations in a Sept. 10 Hindenburg...

https://s29755.pcdn.co/news/nikola-will-truck-hydrogen-to-stations-when-electricity-costs-too-much

Short seller Hindenburg Research renews attack on Nikola

15 September 2020

Hindenburg Research, the short seller that successfully beat down Nikola’s share price by 40%, fired more shots at the beleaguered electric truck startup on Tuesday. Nikola refused to engage amid a report of a possible Securities and Exchange Commission (SEC) inquiry.

Nikola, which hired crisis communications firm Joele Frank, declined to respond to questions about Hindenburg’s renewed attack or a Bloomberg report quoting unnamed sources that the SEC was investigating Nikola.

The SEC declined to...

https://s29755.pcdn.co/news/short-seller-hindenburg-research-renews-attack-on-nikola

The Daily Dash: Nikola turmoil, Trimble layoffs and HOS changes

11 September 2020

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, a short seller has laid out a blistering report on Nikola, suggesting the company is perpetrating a fraud on investors. Plus, Trimble has announced layoffs within its transportation business, hours-of-service changes could impact safety and YRC’s issues linger.

Not everything is as it seems

Nikola Corp. (NASDAQ: NKLA) has been a media and industry darling of late, but a report from a recognized short...

https://s29755.pcdn.co/news/the-daily-dash-nikola-turmoil-trimble-layoffs-and-hos-changes

Nikola founder drops another 1 million shares on employees

9 September 2020

Nikola Corp. (NASDAQ: NKLA) founder Trevor Milton is giving away more of his stock.

Two weeks after dropping 6 million of his personal shares on about 50 original employees — fulfilling a promise made at a Christmas party in 2017 — Milton is giving a six-figure gift to each of the rest of his 350 employees of the electric truck startup.

No press release like last time. Just a tweet from Milton.

“A complete surprise for everyone. … A lot of happy employees here in Phoenix,” a company spokeswoman...

https://s29755.pcdn.co/news/nikola-founder-drops-another-1-million-shares-on-employees

Nikola sets Arizona plant groundbreaking for July 23

19 June 2020

Nikola Corp. (NASDAQ: NKLA) will break ground on a plant in Coolidge, Arizona, on July 23 that initially will employ 2,000 workers building battery-electric Class 8 trucks.

Nikola Executive Chairman Trevor Milton on Friday. The plant, which is expected to take 12-18 months to construct, eventually will build 35,000 battery and hydrogen fuel cell electric trucks annually, a Nikola spokeswoman said.

The startup, which became a publicly traded company via a reverse merger on June 4, is competing...

https://s29755.pcdn.co/news/nikola-sets-arizona-plant-groundbreaking-for-july-23

Nikola’s Milton scraps with startup’s media critics

18 June 2020

Trevor Milton is fighting mad.

For the second time in three months, the founder and executive chairman of Nikola Corp. (NASDAQ: NKLA) is blasting a national media outlet over its reporting on him and his newly public electric truck startup.

The latest incident boiled over Wednesday evening when Milton accused a Bloomberg business news reporter on Twitter of lying about details of a Nikola prototype unveiled in 2016.

In a letter signed by Nikola Chief Legal Officer Britton Worthen, Nikoka...

https://s29755.pcdn.co/news/nikolas-milton-scraps-with-startups-media-critics

Nikola CEO flirts with deca-billionaire status

9 June 2020

Nikola Corp. (NASDAQ: NKLA) CEO Trevor Milton is flirting with deca-billionaire status as the share price surges in his newly public battery and fuel cell electric trucking startup.

With Nikola stock appreciating more than 300% since it began trading under its own name last week, Milton’s paper wealth has exploded. Based on midday Tuesday trading of $81.68, Milton’s 91,602,734 shares were worth $7.48 billion. He works for a salary of $1 a year.

Milton prefers to talk about how Nikola’s...

https://s29755.pcdn.co/news/nikola-ceo-flirts-with-deca-billionaire-status

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