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Why Nikola Stock Sank in July

Why Nikola Stock Sank in July

The U.S. government formally filed charges in July against Trevor Milton, the founder and former CEO of Nikola (NASDAQ: NKLA), and investors fled the stock as a result. Shares of Nikola lost 34.3% in July, according to data provided by S&P Global Market Intelligence, as investors fret about what the future holds for the once-promising electric truck start-up. The charges filed against Milton were no surprise for investors familiar with the Nikola story.