To Innovation - Breaking Politics, Economics, Crypto & IT News

learn more
Reporting from Watford, UK and LA, US since 1996
learn more




TOP STORIES
Traces of water found on Mars

At least in the distant past the Red planet had a liquid bodies of water



Nikola shares are under pressure as the owner gives up



Trevor Milton sells $49 million of shares, the SEC filling show



05.Apr.21 1:42 PM
By Shawn Highstraw
Photo Nikola

   513

Nikola shares are under pressure as the owner gives up
Trevor Milton, the founder of Nikola, has sold a bunch of shares in his company. This was demonstrated by a report in the register of the Securities and Exchange Commission regulator.

Milton sold 3.5 million shares for $ 13.89 each. This sale earned the founder nearly $ 49 million. The stock closed last Thursday at $ 13.91.

Milton resigned last September as CEO of Nikola, under pressure from a report by Hindenburg Research. The report stated, among other things, that the battery technology of the electric car manufacturer does not exist.

In November, GM decided not to take a stake in Nikola. The American car manufacturer would take an 11 percent stake, worth $ 2 billion.

In mid-March this year, Nikola submitted documents to the SEC for the issue of new shares.



Back to the list


Related Information: