Nkla Stock Short

Nikola stock fell 11.

Nkla stock short. The stock short sellers authorities discuss wednesday 16 september 2020 12 20 do you think that the wirecard scandal was the biggest stock market scam in years. Short selling research firm hindenburg has recently accused nkla of fraud after it published a report criticizing the electric truck maker. Called the allegations false and deceptive and a company press release deemed hindenburg s report a hit job for short sale. The short sellers are circling nikola s stock and they seem ready to pounce on this one the cost to borrow shares to go short is at crazy levels that seem hard to believe.

Shares dropped 15 after the company issued a blanket denial of allegations made in a short seller report without offering any specifics to refute allegations it lied about its. When an investor makes a short sale they do so with the belief that a security will decline in price. If yes then what about nkla. The report claims that nkla has repeatedly hyped its battery and fuel cell technology beyond its true capabilities and overstated its progress toward the development of its electric truck including faking video of its prototype driving on road.

Short volume is a data set that can be used to understand investor sentiment. Nkla stock downfall what began as profit taking in june turned quickly into a bearish correction as investors collectively reassessed nikola s success in manufacturing fanciful hype rather than. Nkla nikola corporation short volume is shown in the following chart.