Why Nikola Stock Is Down Today

John Rosevear, The Motley Fool
·2 min read
Why Nikola Stock Is Down Today

Shares of embattled electric truck start-up Nikola (NASDAQ: NKLA) were trading lower on Friday, after steel company Worthington Industries (NYSE: WOR) revealed in a regulatory filing that it had sold its entire stake in the company. As of 1 p.m. EST, Nikola shares were down about 6.2% from Thursday's closing price. In an 8-K filing released after the market closed on Thursday, Worthington said that its subsidiary WI Ventures had sold its entire remaining stake in Nikola, just over 7 million shares, for about $147 million.