NKLA) CEO Trevor Milton said he is giving six million of his own shares in the electric vehicle firm to the first 50 employees, making good on a promise he made to them when they were hired.” data-reactid=”19″>Nikola Corporation (NASDAQ: NKLA) CEO Trevor Milton said he is giving six million of his own shares in the electric vehicle firm to the first 50 employees, making good on a promise he made to them when they were hired.
I love our employees. They make Nikola great & are the key to our success. I’m making good on my promise when I hired the first +- 50 employees – giving 6,000,000 of my personal shares to them. You’ll see a reduction in my holdings for this. They are not sold, but given.
— Trevor Milton (@nikolatrevor) August 26, 2020
reverse merger with VectorIQ Acquisition, a blank check company. ” data-reactid=”22″>The six million shares are worth close to $233 million as of Wednesday’s closing. The automaker debuted on the Nasdaq Stock Market in June through a reverse merger with VectorIQ Acquisition, a blank check company.
Nikola shares have surged nearly 277{d05f388fa08f4d675a822acf1486e94712302178bac778b4b99d28e44a90be3a} YTD and the company is valued at $14.7 billion.
mirror the success of Tesla Inc’s (NASDAQ: TSLA) charging network but with a web of hydrogen-refueling facilities.” data-reactid=”28″>Why It Matters: The EV maker’s focus is on heavy-duty freight and hydrogen-powered battery vehicles. The company is aiming to mirror the success of Tesla Inc’s (NASDAQ: TSLA) charging network but with a web of hydrogen-refueling facilities.
Wedbush analyst Daniel Ives assigned a Neutral rating with a $45 price target on Nikola and believes if the company could stay true to its roadmap, it could justify its valuation.
The Phoenix-based automaker is reportedly due to unveil its Tre BEV truck on September 24, while its Badger pickup is scheduled for unveiling in Dec. 2020.
The automaker reported a net loss of 33 cents per share in its second quarter compared with 6 cents per share in the same period last year.
On July 22, the company issued a notice of redemption of public warrants and expected to raise $264.5 million in cash through 23 million outstanding warrants at $11.50 per piece.
