Nikola Corp.’s talks with power firms including BP PLC to make hydrogen-refueling stations have been stalled adhering to a short-seller’s allegations that the electrical automaker misled traders, the Wall Street Journal claimed.
Probable companions have been hesitant to transfer forward amid the heightened scrutiny, but a deal could continue to occur with each other, the Journal claimed Wednesday, citing people common with the make a difference.
Nikola and BP did not immediately reply to Reuters requests for comment.
Shares of Nikola were being down 10.6 p.c to $25.forty eight in midday investing Wednesday.
In a scathing report two weeks in the past, short-vendor Hindenburg Investigation reported it experienced more than enough evidence to show Nikola and its founder Trevor Milton created bogus statements about the company’s proprietary technologies to form partnerships with automakers.
Milton resigned adhering to the allegations but Nikola CFO Kim Brady reported Tuesday the business has the backing of all its current automotive companions.
Nikola has publicly rejected the accusations and has threatened to get lawful action from Hindenburg.