Bloomberg Claims Nikola Overstated Its Truck Capabilities; CEO Roars Back in a Tweet Storm
Investors are charged up about the electric vehicle manufacturer Nikola (NASDAQ: NKLA), having sent its shares on the road to a 90% gain over the past two weeks. Bloomberg, on the other hand, not so much.
On Wednesday, Bloomberg reporter Edward Ludlow espoused a more dubious approach to Nikola, claiming that the company overestimated the abilities of its semitruck at an event more than three years ago. In the article, Ludlow references insiders who said that the Nikola One hydrogen fuel cell semitruck, which the company presented at the event, "was inoperable and missing key components to power itself."
Shortly after the article was published on Thursday, Trevor Milton, Nikola's founder and CEO, came out swinging. Tweeting six times in eight minutes, Milton defended himself, asserting that he wasn't deceitful at the event and that Ludlow reported "bad information." To wrap up his response, Milton tweeted a letter that he said Nikola send to Bloomberg, which threatened legal action over the alleged misrepresentation.
Source Fool.com
