Green Brick Partners Inc
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Consumer Discretionary : Household Durables | Small Cap Blend
Company profile

Green Brick Partners, Inc. operates in the real estate industry. The Company operates through two segments. The builder operations segment includes its controlled builders results, which include building and selling single-family detached homes and townhomes that are designed and built to meet local customer preferences, and the sale of lots. Builder operations consist of three operating segments: Texas, Georgia, and corporate and other. Corporate operations segment develops and implements strategic initiatives and supports its builder operations and land development by centralizing certain administrative functions, such as finance, treasury, information technology and human resources. The land development segment includes operations related to the acquisition and development of land, which is sold to its controlled builders and third-party homebuilders. As of December 31, 2016, it had owned or controlled over 5,200 home sites in various locations in the Dallas and Atlanta markets.

Closing Price
Day's Change
-0.11 (-0.51%)
B/A Size
Day's High
Day's Low
(Below Average)

10-day average volume:

UPDATE: Nikola shares take wild ride after denial of short-seller's allegations, report of SEC inquiry

8:51 pm ET September 14, 2020 (MarketWatch)

By Mike Murphy

Stock soars after rebuttal to fraud claims, but sinks after hours on report of SEC interest

Shares of electric-truck maker Nikola Corp. went on a wild ride Monday, as the Securities and Exchange Commission reportedly weighed a short-seller's claims of fraud, which the company had vehemently denied earlier in the day.

After sinking around 8% in early-morning trading, shares of Nikola (NKLA) surged after the company issued a rebuttal, closing up more than 11%. But much of those gains evaporated after hours, following a Bloomberg News report ( the SEC was looking into short-seller Hindenburg Research's claims. Nikola ended the extended session down 8%.

Last week, Hindenburg called Nikola an "intricate fraud," ( alleging the company made widespread false statements and false claims about its technology. On Monday morning, Nikola called that report "false and misleading" ( and offered a detailed rebuttal of Hindenburg's accusations, citing "dozens" of inaccuracies.

But Nikola did not dispute that a 2018 promotional video giving the impression of a self-driving truck in action actually just showed the truck rolling downhill. Nikola "never stated its truck was driving under its own propulsion in the video," the company said.

Nikola also said it had "proactively contacted and briefed" the SEC about Hindenburg's report, claiming it was designed to manipulate the market to benefit short sellers. In a statement, Nikola said it "welcomes the SEC's involvement in this matter."

But its stock tumbled in extended trading after a late-afternoon report by Bloomberg that said the SEC is also looking into Hindenburg's allegations that Nikola may have violated securities laws by deceiving investors. Bloomberg said the review is preliminary and may not result in an investigation.

Wedbush analyst Dan Ives is taking a wait-and-see approach, saying Monday that Nikola is a "prove me" stock (, while keeping a neutral rating.

Last week, Nikola shares shot higher after General Motors Co. took a $2 billion equity stake in the company ( and announced a "potential game changing" partnership to build an electric pickup. GM Chief Executive Mary Barra told CNBC ( Monday that GM had conducted "appropriate diligence" ahead of the deal.

Nikola shares have sunk 47% over the past three months, but are still up nearly 250% year to date.

-Mike Murphy; 415-439-6400;

(END) Dow Jones Newswires

September 14, 2020 20:51 ET (00:51 GMT)

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