Yahoo Finance’s Alexis Keenan reports on the latest fraud allegations against Nikola.
Short seller Hindenburg Research has doubled down on allegations made last week that Nikola Motor Company (NKLA) spun an “ocean of lies,” calling the electric-truck startup’s response to the allegations a “tacit admission of securities fraud.” In a statement published Tuesday, Hindenburg rejected Nikola’s response to the claims, saying they failed to dispel doubts about a deceptive video that made it seem as if its Nikola One semi-truck were traveling under its own power at a high rate of speed. The short seller further criticized the company for purportedly answering just 10 of 53 questions that it said the company should answer for the sake of shareholders.
#Nikola #Nikolafraudallegations #Hindenburg .
Yahoo Finance news video