Citron Research Advises Investors to Hit the Brakes on Buying Nikola Corporation Stock
With shares of Nikola Corporation (NASDAQ: NKLA) racing more than 157% higher over the past five days, it's clear that investors are smitten with the electric truck manufacturer. The stock, for example, closed at $73.27 yesterday -- more than 100% higher than where it closed Friday -- after its founder revealed that the company will soon accept reservations for its electric pickup truck. Citron Research, however, isn't impressed.
In a tweet, Citron Research, run by short-seller Andrew Left, today revealed its skepticism about the stock's recent rise, stating that it sees shares of Nikola falling to $40 in the next few weeks.
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Source Fool.com