TCEHY - Wall Street Breakfast: Nikola In The Spotlight After Founder Resigns

Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Stitcher and Spotify. Nikola in the spotlight after founder resignsNikola (NKLA) shares tumbled 30% in premarket trade after founder Trevor Milton stepped down as executive chairman and member of the company's board, adding that he would defend himself against "false allegations leveled by outside detractors." The resignation comes in the wake of claims made by short-seller Hindenburg Research, who described Nikola as a "an intricate fraud built on dozens of lies," as well as reported SEC and DOJ investigations into the company. The news could also spell trouble for General Motors (GM), which recently took an 11% stake in Nikola and said it would produce its marquee hydrogen fuel cell electric pickup truck called the Badger. More pain for stocks Things aren't looking brighter for U.S. equities following Wall

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Wall Street Breakfast: Nikola In The Spotlight After Founder Resigns