Nikola Motor stock tumbled on Friday by more than 11% after the reports about the company distancing itself from its badger pickup truck and, therefore, from its partnership with General Motors.
Nikola’s CEO, Mark Russell stated that the company has the ability and has “a base plan of doing it ourselves. If we have a partner, that just enables us to consider going faster and helps reduce the risk. We’ve proven that over the years that we are a partnership company when those things are available to us.”
At 10:16 am the stock tumbled by 11.05% selling for $20.75.