Nikola stock (NKLA) tanks after GM deal lacks equity stake
November 30, 2020 Update: Shares of Nikola stock (NKLA) plunged more than 20% during regular trading hours today after the deal with General Motors was finalized. The two companies reworked the deal they previously agreed to, making it smaller.According to CNBC, the new agreement eliminates GM’s equity stake in Nikola and its plans to build the Badger pickup truck. GM and Nikola agreed to a $2 billion deal in September that gave GM an 11% stake in Nikola to provide fuel cell and battery technology and produce Nikola’s Badger truck.After Hindenburg Research released a report alleging fraud at N...