Nikola fails to answer fraud claims, Hindenburg Research says

Shares of Nikola Corp sank 7% on Tuesday after the short-selling Hindenburg Research, which has alleged the electric truck maker misled investors over its technology, said the company had failed to address most of its queries.

Nikola has rejected the accusations and threatened to take legal action against Hindenburg since its research into the company sparked the first of a series of falls in the company’s shares last week.