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NKLA
CNBC
144 days

Nikola founder Trevor Milton says Trump pardoned him in securities fraud case

1. Trevor Milton, Nikola's founder, received a presidential pardon for fraud convictions. 2. The pardon prevents court-ordered restitution of $680 million to Nikola investors. 3. Nikola filed for Chapter 11 bankruptcy, with significant liabilities and low vehicle sales. 4. Milton had falsely promoted Nikola's product capabilities, leading to investor losses. 5. The company's future remains uncertain as it struggles with funding and recalls.

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FAQ

Why Bearish?

Milton's legal troubles and bankruptcy detract from investor confidence. Historical examples show similar firms struggled post-scandal.

How important is it?

Milton's pardon affects public perception and investor confidence, critical for NKLA's recovery.

Why Long Term?

The long-term outlook is negative due to ongoing bankruptcy proceedings and trust issues.

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