World Nikola share jumps up: Nikola postpones Badger presentation - will the deal with GM break or will it turn out differently?

17:45  01 october  2020
17:45  01 october  2020 Source:   finanzen.net

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The situation at Tesla competitor Nikola is getting worse. The presentation date for the company's first electric truck, which was firmly scheduled for the end of the year, has been postponed - now General Motors could pull the rip cord.

Spencer Platt/Getty Images © Provided by Finanz.net Spencer Platt / Getty Images

• Move Nikola Nikola World

• Is there no Badger presentation?

• GM deal on the brink

Things are going very well for Nikola : After the company was targeted by the US Securities and Exchange Commission as a result of massive fraud allegations by the shortseller Hindenburg Research and the boss and founder of Nikola, Trevor Milton, surprisingly dismissed , the manufacturer of electric trucks was now forced to cancel its major event, the Nikola World, planned for December. Nikola World postponed or canceled?

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officially cited the COVID-19 pandemic as the reason for the delays: "Due to the COVID-19 audience size restrictions at major Arizona venues, we have decided to postpone Nikola World until we have the Nikola community All tickets in connection with Nikola World will be reimbursed or remain valid, depending on the customer's wishes, "said a press release.

Meanwhile, the company failed to set a new date for the event, during which the Nikola Badger was to be presented, which raised doubts among some investors as to whether Nikola World could possibly be canceled completely. "We will continue to provide progress updates for our entire product portfolio," the company emphasized without being more specific.

GM entry in danger

Montrezl Harrell expected to get only modest free agent deal

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In addition, Nikola is getting headwind from another side: Because the

entry of the US car maker General Motors , which was widely announced weeks ago, may be on the brink of danger.

The strategic partnership should actually have been finalized on Wednesday, but there had been delays in the negotiations recently. Originally, GM had bought eleven percent of Nikola and wanted to put two billion US dollars on the table for it, but recently public allegations against the former CEO have possibly caused a rethink among GM's leaders. Specifically, it concerns allegations of two women who had accused Trevor Milton of alleged sexual assault by US authorities.

according to CNBC, the deal between GM and Nikola can be terminated by either side if it is not finalized and signed by December 3rd.

In the meantime, however, there were also voices that had assessed a delay in the negotiations as positive: At CNBC, speculation was recently also made about the fact that GM could even significantly expand its stake in Nikola. After all, the Nikola share has become around half cheaper since Hindenburg's still unresolved fraud allegations.

Nikola Tre announced

Meanwhile, Nikola management is working to regain investor confidence. The company announced that five Nikola Tre prototypes of the in-house semi-trailer truck are nearing completion. The vehicles are not powered by fuel cells but by a battery.

Investors' speculation about Nikola fell on fertile ground on Wednesday, with Nikola shares trading 14.54 percent higher at $ 20.48. Also on Thursday there is a clear upward trend: The share recorded an increase of 10.45 percent to 22.62 US dollars.

editors finanzen.net

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