Zero Trucks Given as Former Nikola CEO Sells Company Shares
Posted on 12/09/2020
According to a filing from the SEC, former Nikola Corporation CEO Trevor R. Milton sold 3,243,511 shares of company stock on the company’s lockup expiration date on December 3, 2020. Short seller Hindenburg Research’s Nathan Anderson noted on Twitter on December 7, 2020, “Looks like Trevor Milton dumped $55m worth of $NKLA shares on lockup expiry day as part of a real estate deal.
Zero trucks sold.”
The amount of shares sold is estimated at US$ 55 million.
Nikola Corporation has stated on several occasions that it intends to take some of its concept vehicles into production the future. The company has a current market cap of US$ 7.27 billion.