Nikola shares slide after GM drops $2 billion stake in electric truck maker

Nikola stocks fell almost 25% after the company and General Motors announced a reworked deal on a fuel-cell tie-up that ends an equity stake in the startup for the Detroit automaker as well as plans for building Nikola’s electric pickup truck. GM said it won’t pay $2 billion for an 11% stake in Nikola following the fraud claims against its founder, founder Trevor Milton, who resigned in September.

Nikola shares slide after GM drops $2 billion stake in electric truck maker

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