The market speaks: Nikola stock down 80% since all-time high

Traders continue to reject Nikola stock following the departure of its founder Trevor Milton, with shares in the electric vehicle rogue now trading 80% below its record high set in June. Nikola stock opened Thursday trade at $18.10, down 47% since Milton’s resignation just four days ago. In terms of market value, traders reckon Nikola is now worth just $6.91 billion — one-fifth of what it was at its peak. Tesla, the original EV company named after the famed inventor, is also struggling to maintain value. The Elon Musk-led carmaker has shed more than $126 billion from its market cap since its record…

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