In another try to calm down the investors and to stop the free fall of Nikola (NKLA) stock price Trevor Milton, founder of Nikola Corporation, decided to encourage investors, again. And again using social media.
Been working on rebuttal of hindenburg for 14 hours to provide a clear, factual, low-emotional answer to the report. It will be out before market opens and working through the night. I feel great about every answer. They wanted max damage, it didn't work. Now back to growth.— Trevor Milton (@nikolatrevor) September 11, 2020
He announced early (very early, 2AM in NYC) on Friday rebuttal of hindenburg report ready for NASDAQ pre-market trading session.
The shares of Nikola are under massive attack on Thursday after Hindenburg Research accused the group of “a sea of lies” in a study. The short sellers have a simple explanation for GM’s entry into Nikola: Tesla.
As recently as Tuesday, the world seemed okay for Nikola shareholders: the car manufacturer GM had taken an 11 percent stake in the Tesla competitor and thus sparked a price rally that blew the shares up by 40 percent.
Two days later, nothing is okay anymore.
The background to this is a study by Hindenburg Research, in which the authors accuse the company boss Trevor Milton of continually telling the untruth with regard to his company and its prospects.