General Motors’ Deal Doubts Denting Nikola

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Trader Fred DeMarco works on the floor of the New York Stock Exchange, Friday, Feb. 28, 2020. Global stock markets are falling further on spreading virus fears. (AP Photo/Richard Drew)

All eyes are on General Motors’ (GM) deal with Nikola (NKLA).

Even with allegations of fraud and assault allegations against Trevor Milton, the two companies could finalize their $2 billion deal this week.  However, “Our transaction with Nikola has not closed,” General Motors said, as quoted by Barron’s. “We are continuing our discussions with Nikola and will provide further updates when appropriate or required.”

For NKLA investors, there’s hope the deal can close with all the controversy.  If not, the NKLA stock could easily plunge to lower lows – and fast.

If the transaction is not closed by Dec. 3, the GM-NKLA deal can be terminated.

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