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SEC probing Nikola Motors over short-seller claims of fraud - Business Insider

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The SEC is probing Nikola Motors over short-seller's claims the company misled investors and is an 'intricate fraud'

Nikola had inked a $2 billion deal with General Motors just days before the report, sending its market value soaring more than 40%.

"On September 11, Nikola's legal counsel proactively contacted and briefed the U.S. Securities and Exchange Commission regarding Nikola's concerns pertaining to the Hindenburg report. Nikola welcomes the SEC's involvement in this matter," a spokesperson for the company told Business Insider.

Hindenburg's report also claimed that Nikola had staged an "elaborate" deception by rolling one of its prototype Nikola One trucks down a hill for a promotional video, which it said misled investors about the capabilities of the vehicle.that sent its market value soaring more than 40%, caused its stock price to drop as much as 25%.

At the time, a Nikola spokesperson said the report was "filled with misinformation" designed to benefit Hindenburg's short bet, while Milton called it a "hit job" while promising a more detailed response to the allegations.On Monday morning, Nikola issued the promised response in a , while admitting that it did roll a truck down a hill for the promo video but maintaining it never claimed the vehicle was operating under its own power.Get your weekly recap of all things electric vehicles, airlines, and more. Sign up for our Shifting Gears newsletter now.

 

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How to Lie Your Way to $34 Billion [Nikola Motors Fraud] via YouTube

Nikola Motors Fraud Claims Explained | Trevor Milton Resigned | Trading ... via YouTube

Hopefully the SEC do their job and take action against this fraudulent company, hope anyone with money in NKLA gets it out soon, chances are they will halt the stock and when it opens again...crash!

The SEC Is probing short seller about Nikola not the contrary.

The rolling of the Nikola truck down a hill and lying to investors and customers that its running on H2, will go down in history, as the 'Milli Vanilli' moment for the auto industry. $NKLA

😬🚘🚗🚐🚙🛢️⛽🏍️

MotorSkeptic What a NikolaNightmare

Why cant Trevor settle with the SEC like elon did for a measly 20M?

Was Nikola formed after Tesla? This seems like a lazy name copy

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Look at the current chart's for OpenLearning=ASX$OLL you should see that the bulls roared bullish yesterday for OLL. OpenLearning has broken out into a new higher trend and looks to be going 🚀🚀

Motley fool article on OpenLearning=ASX$OLL🚀🚀

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