Shares of electric-truck start-up Nikola (NASDAQ: NKLA) were trading lower on Tuesday, after the company notified regulators that a whole lot of stock held by insiders could hit the market before long.
Nikola's stock price was volatile all morning, moving up and down as buyers periodically stepped in to offset some of the selling pressure. As of 11:15 a.m. EDT, it was trading down about 4.1% from Monday's closing price.
In a regulatory filing after the U.S. markets closed on Monday, Nikola outlined the stock and warrants held by various insiders and warned investors that those shares will eventually hit the market.
Source Fool.com