NKLA stock loses steam after Nimbus Holding dumps $73 million worth of shares – Idaho Reporter

NKLA stock news

NKLA stock loses steam after Nimbus Holding dumps $73 million worth of shares

Just when everyone thought how all the bad information regarding Nikola (NASDAQ:NKLA) stock is priced in, another piece of (bad) information surfaced on Thursday.

According to this SEC filing, on December 1, 2020, Nimbus Holding, sold an aggregate of 4,261,155 Common Shares and Nimbus, along with the other Reporting Persons, ceased to be the beneficial owner of more than 5% of the Common Shares Outstanding.

Nimbus sold these shares in 3 separate transactions with an average price of around $17.20.

Nimbus Holding is owned by Robert Bosch LLC, which still owns 18,820,296 Common Shares which is 4.9% of the common shares outstanding. Nimbus ceased to be the beneficial owner of more than 5% of the Common Shares Outstanding.

Robert Bosch North America Corporation is the sole owner of Robert Bosch LLC, while Robert Bosch GmbH is the sole shareholder of Robert Bosch North America Corporation.

First the fraud allegations on the part of the shortseller Hindenburg Research, then the withdrawal of founder Trevor Milton, then disappointing deal with GM and now the Bosch sale: the news situation around Nikola has deteriorated drastically in recent months. NKLA stock price may go below $15 if bulls fail to defend $18 mark.

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