Nikola inventory plunges as firm cancels Badger pickup truck

A large pickup truck gradually vanishes.

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

Issues maintain going downhill for aspiring hydrogen truck-maker Nikola.

Nikola’s inventory plunged on Monday morning as the corporate introduced {that a} beforehand introduced cope with Basic Motors was not going to shut. As an alternative, the 2 firms signed a “non-binding memorandum of understanding” associated to the usage of GM’s hydrogen gas cell expertise in Nikola’s future semi vans. GM won’t take a stake in Nikola as initially deliberate.

Nikola’s inventory is down 26 p.c as I write this on Monday morning. The inventory is down 58 p.c since September 8, the day Nikola initially introduced the GM deal.

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