@paper_fortunes: In June 2020, Nikola's stock market value briefly passed Ford's, at nearly $30 billion. A 2018 promo video showed its Nikola One truck cruising down a road; the truck was not moving under its own power, it was rolling down a hill, which Nikola later acknowledged. In September 2020, short seller Hindenburg Research called the company "an intricate fraud". Founder Trevor Milton resigned that month. In October 2022 a jury convicted him of securities fraud and wire fraud, and in December 2023 he was sentenced to four years, while remaining free on appeal. Nikola filed for Chapter 11 bankruptcy in February 2025, and President Trump pardoned Milton in March 2025. Sources: Wikipedia, 'Nikola Corporation' and 'Trevor Milton'; Hindenburg Research report on Nikola (Sept 2020); U.S. Attorney's Office SDNY press releases (2022, 2023). Not financial advice. #nikola #fraud #stockmarket #explained #money

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