Nikola plummets 21% after company files to sell 24 million shares - Business Insider

Nikola plummets 21% after company files to sell 24 million shares

on Friday following the market close detailing its intention to sell up to 23.9 million shares.

Additionally, existing stakeholders can sell up to 53.4 million shares, according to the filing. Nikola will not receive proceeds from the sale of stock by existing shareholders. Shareholders that filed to sell stock include BlackRock, Fidelity, and ValueAct, the prospectus said.

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