Shares of Nikola Corp. (NKLA) were on pace for their lowest close since July 31, when it closed at $30, and are off 61% from its record close of $79.73 on June 9. The stock traded as low as $30.78 on Friday, down more than 16%, a day after short seller Hindenburg Research published a report on the electric truck maker calling it an "intricate fraud." ( ) In a statement Friday, Nikola called the report a "hit job." Nikola stock has lost 37% in the last three days, its worst three-day stretch since early July. The stock is up 204.85% so far this year, which compares with gains around 2.7% for the S&P 500 index in the same period.
-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
September 11, 2020 14:09 ET (18:09 GMT)
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