Shares in Italy's CNH down 6.2% after Nikola founder steps down
Reuters
Published Sep 21, 2020 05:20AM ET
MILANO (Reuters) - Italy's CNH (MI:CNHI) was one of the top losers on Milan's bourse on Monday, its shares down over 6% in early trade, after the founder of U.S. electric truck maker Nikola Corp 's (O:NKLA) stepped down as executive chairman, a trader said.
"The news of Nikola's Trevor Milton stepping down is bringing (CNH) stock down," a Milan-based trader told Reuters.
CNH Industrial (NYSE:CNHI) owns 7.1% of Nikola Corp.'s share capital.
Nikola said on Sunday Milton was leaving as the company is battling allegations from a short-seller that it misled investors and automakers. The group rejected the accusations and threatened to take legal action.
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Written By: Reuters
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