Nikola Motor Company Two truck
Source: Nikola Motor Company
Nikola shares jumped by about 12% in morning trading after the embattled electric truck start-up reconfirmed its business plans and production targets following founder and former Executive Chairman Trevor Milton’s resignation last week.
The company said it “remains committed to achieving” a set of milestones previously outlined despite Milton’s exit amid claims of fraud involving the company that have reportedly led to investigations by the Securities and Exchange Commission and Department of Justice.
“With support from our business partners and suppliers, we are focused on executing on our strategic initiatives and laying the…