By Russ Wiles | Arizona Republic
Phoenix-based Nikola Corp., which is building a factory in Pinal County to manufacture zero-emissions heavy trucks and just announced a landmark deal with General Motors, has attacked fraud allegations raised by a short seller that have caused its stock price to plummet.
Nikola said it may take legal action against the short-selling investment firm, Hindenburg Research. The vehicle manufacturer alleged that the critical report was written and published to manipulate the price of Nikola’s stock, which has lost about 40% of its value over the past two days.
Trevor Milton, Nikola’s founder and executive chairman, posted photos to Twitter on Friday that he said were of the company’s big-rig trucks under assembly in Ulm, Germany.