By on February 26, 2021

The outside firm Nikola hired to conduct the internal investigation looking into the validity of claims made by ousted founder Trevor Milton has reached a conclusion. Milton does appear to have been fabricating the status of the company’s technology and how far along its prototypes were. But Nikola wasn’t helping and ended up being implicated in a few falsehoods of its own.

Some wealthy individual lying to a sea of people for the sake of making money is hardly news, however. The entire world runs on politicians and business people going back on promises made months earlier and clarifying statements that never seem to illuminate anything. What makes Milton’s offense so bad is that he seems to have used the power of lying to mislead investors who might have otherwise made money. Nikola shares never truly recovered from the exposé published by Hindenburg Research as part of its plan to short the company, and those who never bothered to question the legitimacy of its technical claims before investing are suddenly very interested in knowing everything about the business.

(Read More…)

Recent Comments

  • Superdessucke: Oh my goodness that interior is awful. So much plastic! Makes the interior of my Veloster N look like...
  • scottcom36: You did no such thing. You fleshed out my thoughts better than I could have.
  • sgeffe: I thought that the steel was reasonably thick, at least! It certainly seems that those cars may have been...
  • mcs: It’s 70 electrified Models with 15 of them BEVs by 2025. The bZ4x BEV is coming next summer. Out of the...
  • theonlydt: The municipally supplied compost bin outside my home is made of better plastic than that interior. The...

New Car Research

Get a Free Dealer Quote

Who We Are

  • Adam Tonge
  • Bozi Tatarevic
  • Corey Lewis
  • Mark Baruth
  • Ronnie Schreiber