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Nikola shares open at lowest price since IPO after company founder Trevor Milton resigns

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Founder of Nikola, Trevor Milton speaks during presentation of its new full-electric and hydrogen fuel-cell battery trucks in partnership with CNH Industrial, at an event in Turin, Italy December 2, 2019.

Massimo Pinca | Reuters

Shares of Nikola  opened Monday at their lowest price since the company went public June 4 after company founder and executive chairman Trevor Milton announced his resignation overnight.

The stock was down as much as 30% in premarket trading before opening at $24.97. Shares rebounded a bit after the open, trading down by about 20% in early morning trading.

Stephen Girsky, a former vice chairman of General Motors and a member of Nikola’s board, has been…

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Source cnbc.com

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