- Initial commercial sales of the Nikola Tre BEV truck delayed to 2022 amid global chip shortage. Timeline for FCEV trucks remains unchanged.
- Company has started to issue shares under the recent $300 million stock purchase agreement with Tumim Stone Capital LLC.
- Assume full utilization of the stock purchase agreement, management expects the company's year-end cash position in a range of $500 to $530 million.
- Founder Trevor Milton recently sold $77 million in Nikola stock, just days after having been charged with securities fraud.
- Investors should continue to avoid the shares given the ongoing overhang from the company's massive capital needs and founder Trevor Milton's legal troubles.
For further details see:
Nikola - The Herculean Task Of Turning A Former Stock Promotion Scheme Into A Viable Business