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Nikola

All articles tagged with #nikola

electric-vehicles1 year ago

"Elon Musk's India Visit Sparks Tesla's 50% Price Cut and Nvidia Partnership Speculation"

Tesla slashes its Full Self-Driving (FSD) subscription price by 50% to $99/month, while CEO Elon Musk plans to visit India and meet with Prime Minister Narendra Modi to reveal the company's India plan. Nikola's stock plunges amid a boardroom battle and a proposed reverse stock split, Ford reduces prices for its F-150 Lightning EV pickup truck, and Volkswagen sees a decline in EV sales in Europe but a robust increase in China. Canoo deepens its ties in the Middle East with a pilot program for its electric vehicles.

via Benzinga|
#electric-vehicles#elon-musk#fsd
businesstechnology1 year ago

"Nikola Exceeds Q1 Hydrogen Truck Delivery Estimates, Outperforms Tesla in Electric Big Rigs"

Nikola exceeded first-quarter delivery estimates for its hydrogen big rigs, delivering 40 vehicles compared to the estimated 30. The company aims for further sales growth as it opens refueling stations and pivots to hydrogen technology. Despite challenges in the EV industry, Nikola's shares rose 10%, showing signs of progress after facing setbacks including the founder's fraud conviction and a recall of its battery-powered trucks.

via Yahoo Finance|
#businesstechnology#deliveries#electric-vehicles
business-automotive1 year ago

"Nikola Exceeds Q1 Hydrogen Truck Delivery Projections, Surpasses Tesla in Electric Big Rigs"

Nikola exceeded first-quarter delivery expectations for its hydrogen big rigs, delivering 40 vehicles compared to the estimated 30, signaling progress in its shift to hydrogen technology. The company aims for further sales growth with the launch of HYLA hydrogen fueling solutions and the opening of two refueling stations in California and Alberta. Despite facing challenges and a tumultuous past, including a significant drop in share value and a recall of battery-powered trucks, Nikola's stock rose 10% following the positive delivery figures.

via Reuters|
#business-automotive#deliveries#electric-vehicles
finance1 year ago

"Nikola's Rollercoaster Ride: Stock Soars Amid Legal Battles and Investor Speculation"

Nikola Corp is taking legal action against EMBR Motors, Dave "Heavy D" Sparks, attorney Cole Cannon, and disgraced founder Trevor Milton for allegedly violating an agreement regarding the sale of Badger electric pickup truck assets. The company claims that despite an agreement barring Milton's involvement, he and others launched a campaign to take over Nikola's board. Meanwhile, Nikola's revenue growth in FY23 was -28.62%, influenced by macroeconomic factors, and investors are advised to monitor economic conditions to gauge the impact on Nikola stock. As a result of these developments, NKLA shares were up 5.77% at $1.10 at the time of publication.

via Benzinga|
#electric-vehicles#finance#legal-action
finance1 year ago

"Nikola (NKLA) Continues Impressive Stock Surge"

Nikola stock soared by more than 15% due to the announcement of plans for a new hydrogen fueling station in Western Canada and the showcasing of hydrogen fueling stations at the Paris Olympics by Air Liquide. These developments signal legitimacy for Nikola and its plans to grow the use of its hydrogen trucks in North America, leading to investor optimism. However, potential investors should note that The Motley Fool Stock Advisor analyst team did not include Nikola in their list of the 10 best stocks for investors to buy now.

via Yahoo Finance|
#air-liquide#finance#hydrogen-fuel
finance1 year ago

"Nikola Stock: What Investors Need to Know Before Buying"

Nikola stock has declined significantly, prompting debate among investors. Bears are concerned about the company's financial health, shareholder dilution, and competition, while bulls are optimistic about new leadership and the company's hydrogen prospects. Investors are advised to carefully weigh the risks and potential returns before deciding whether to invest in Nikola.

via Yahoo Finance|
#electric-vehicles#finance#financials
business2 years ago

Nikola Founder Trevor Milton Receives 4-Year Prison Sentence for Electric Car Fraud

Trevor Milton, the founder of electric truck maker Nikola, has been sentenced to four years in prison for lying to investors about the company's technology. Milton misled investors by making false statements about Nikola's products and capabilities. The judge acknowledged that Milton's case was different from Elizabeth Holmes' Theranos case, but rejected his explanation that he spoke with enthusiasm and did not intend to harm investors. Milton was convicted on one count of securities fraud and two counts of wire fraud. Nikola previously settled civil charges with the SEC for $125 million.

via The Guardian|
#business#electric-vehicles#fraud
business2 years ago

"Nikola Founder Trevor Milton Receives 4-Year Prison Sentence for Fraudulent Actions"

Trevor Milton, the founder of Nikola, has been sentenced to four years in federal prison for fraud. Milton was convicted by a jury for spreading lies about the hydrogen-electric vehicle company he founded. Prosecutors had requested an 11-year sentence, but the judge ruled for a shorter term. Milton's fraudulent activities included making false representations about Nikola's hydrogen fuel cell prototype truck and deceiving investors about the company's capabilities and technology. Nikola's stock fell over 9% following news of Milton's sentencing.

via Yahoo Finance|
#business#electric-vehicles#fraud
business2 years ago

"Nikola Founder Trevor Milton Receives 4-Year Prison Sentence for Electric Vehicle Fraud"

Trevor Milton, founder of electric vehicle company Nikola, has been sentenced to four years in prison for fraudulent claims about his company. Prosecutors revealed that Milton's vehicles were never operable, and he deceived retail investors, resulting in losses of over $660 million. Milton was convicted of wire fraud and securities fraud and will also pay a $1 million fine, forfeit a ranch purchased with ill-gotten gains, and provide restitution to victims.

via ABC News|
#business#electric-vehicles#fraud
business2 years ago

"Nikola Founder Trevor Milton Receives 4-Year Prison Sentence for EV Truck Fraud"

Trevor Milton, the founder of Nikola, has been sentenced to four years in prison and ordered to pay a $1 million fine after being found guilty of misleading investors about the company's technology. Milton was accused of lying about Nikola's capabilities and staging a video that falsely showed its electric truck driving under its own power. The fallout from these allegations led to General Motors backing out of an equity deal with Nikola, and the company has since scaled down its ambitions.

via The Verge|
#business#ev-truck#fraud
business2 years ago

"Nikola Founder Trevor Milton Receives 4-Year Prison Sentence for Securities Fraud"

Trevor Milton, the founder and former CEO of electric truck startup Nikola, has been sentenced to four years in prison for securities fraud. Milton was convicted of lying to investors about the development of Nikola's electric trucks to inflate the company's stock price. The sentencing comes after accusations of fraud and canceled contracts caused Nikola's stock to plummet. Milton sobbed as he pleaded for leniency, claiming he stepped down from the CEO position to support his sick wife. Prosecutors recommended an 11-year sentence, but Milton faced a maximum term of 60 years.

via TechCrunch|
#business#electric-trucks#nikola
business2 years ago

"Nikola Founder Faces Potential Prison Term in Fraud Case"

Trevor Milton, the founder and former CEO of electric truck company Nikola, is expected to receive a significant prison sentence after being found guilty of securities fraud and wire fraud. Prosecutors have asked for an 11-year prison term and a $5 million fine, accusing Milton of making false claims about Nikola's technology and orders to inflate the company's stock value. This case highlights the financial challenges faced by electric vehicle start-ups, many of which attracted billions of dollars in investment without generating profits or delivering on their promises. Investors in these companies have suffered enormous losses, while short sellers have profited.

via The New York Times|
#business#electric-vehicles#fraud
legalcrime2 years ago

"Nikola Founder Trevor Milton Faces 11-Year Sentence as US Prosecutors Push for Justice"

US prosecutors are seeking an 11-year prison sentence for Trevor Milton, the founder of Nikola Corp., who was convicted of defrauding investors through false claims about the company's technology. Prosecutors compared Milton to Elizabeth Holmes, the founder of Theranos, who was sentenced to over 11 years in prison for similar charges. Milton has requested probation, arguing that Nikola is a legitimate company with real products. He is scheduled to be sentenced on December 18.

via Reuters|
#fraud#legalcrime#nikola
business2 years ago

"Nikola Stock Plummets: Unraveling the Crash and Future Predictions"

Nikola Corp (NASDAQ:NKLA) shares are trading lower after the company announced proposed offerings of $100 million of common stock and $200 million of green convertible senior notes due 2026. The company plans to use the net proceeds for working capital and general corporate purposes, as well as finance or make direct investments in eligible projects. This news follows Nikola's recent increase in unrestricted cash position and comes as the stock faces heavy selling pressure, down over 54% since the beginning of the year.

via Benzinga|
#business#cash-position#convertible-senior-notes