Nikola inventory falls 14 % after CEO downplays Badger truck plans

A large pickup truck gradually vanishes.

Enlarge / The entrance half of the Nikola Badger. (credit score: Aurich Lawson / Nikola Motor Company)

Nikola CEO Mark Russell downplayed the corporate’s Badger pickup truck in feedback to the Monetary Instances on Thursday.

“The Badger was an fascinating and thrilling venture to some shareholders, however our institutional shareholders are largely centered on the marketing strategy,” Russell mentioned. “Our core marketing strategy since earlier than we grew to become publicly listed all the time centered on heavy vans and hydrogen infrastructure.”

Russell’s feedback had been revealed after markets closed on Thursday. Nikola’s inventory value plunged on Friday morning and is presently down about 14 % for the day.

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