Trevor Milton, who founded Nikola, has been charged with fraud as he allegedly misinformed investors, writes E24.
When it opened on Wall Street, the company’s stock plummeted. Among Nikola’s shareholders are the Norwegian Petroleum Fund and the hydrogen company Nel, both of which will receive several million in paper losses after the indictment.
The Petroleum Fund had 16.9 million shares in Nikola, according to shareholder lists from Bloomberg. This corresponds to a position of close to two billion kroner, but this afternoon a paper loss of over 173 million Norwegian kroner was inflicted.