Nikola Founder Trevor Milton's Lawyers Seek Probation To Avoid Client Going To Jail, Claim Company Is 'Real' Unlike Elizabeth Holmes' Theranos
Portfolio Pulse from Anan Ashraf
Trevor Milton, founder of Nikola Corp (NASDAQ:NKLA), is seeking probation to avoid jail time after being convicted of fraud. His lawyers argue that Nikola is a 'real company with real products,' unlike Theranos. They claim Milton had no malicious intent, just unwavering faith in his company. Nikola's Q3 gross loss increased, and a recall was issued for its battery electric trucks due to fire incidents.
November 16, 2023 | 6:59 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Trevor Milton's bid for probation may influence investor sentiment. Nikola's increased Q3 losses and vehicle recall could negatively impact stock performance in the short term.
The legal developments around Trevor Milton could sway investor confidence, potentially leading to stock volatility. The reported financial losses and product recalls are negative indicators that could further pressure the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100