With founder Trevor Milton gone, Nikola Corp. (NASDAQ: NKLA) Chief Financial Officer Kim Brady tried to clear a cloud of confusion over what the startup electric truck maker does and doesn’t do.
Allegations that Milton misled investors about the company’s technological accomplishments led to his sudden resignation. A battering of the company's stock followed a brutal Sept. 10 report by short seller Hindenburg Research. Nikola shares closed about 3% higher on Tuesday.
Milton exited the company, which he started in 2014, with billions of dollars worth of stock. He is legally bound from talking any more about the company without permission, His company Twitter account was deactivated Tuesday.
Brady became the first executive to appear in public since FreightWaves reported Milton’s departure Sunday night.
A traditional chairman enters
In an online discussion with analysts from Evercore ISI, Brady said Nikola “is Trevor’s baby. But it became increasingly clear that the attention was being focused on Trevor rather than the company as well as the company’s mission.”
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James Woodward
Milton repeatedly stated they were a vertically integrated company!
What will the AZ factory be used for, and how will they pay for it?
Are they making ‘Green” Hydrogen at their current facility as Milton stated?
How many sq. feet of solar cells would have to be at a fueling station to meet anticipated demand?
When will they need to pay GM the 700 mil for their manufacturing line?
Happy Pogrammer
It is all a bit too high level and vague. Time to be specific.
Q1: Since it’s inception in 2014, what products or technologies has Nikola built that they can claim as their own?
Q2: Nikola has in the past, made claims about owning a revolutionary battery tech and a process for reducing Hydrogen production cost by 80% or so. Can you verify these claims today? And maybe provide some evidence of existence of this technology?
Brian Currie
i think not and its amazing how most of this is share price driven and speculators taking profit,even the sums paid to
Trevor milton are eye watering and it looks like it may become a part of a bigger family.there seems nothing new just lots of hype and seen be the down to earth explanations now given.no mention of hydrogen infrastructure or battery life as touted about so we wait and see.BC