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. The shares rebounded a bit after the open, trading down by about 16% in morning trading.
Stephen Girsky, a former vice chairman of General Motors and a member of Nikola’s board, has been appointed chairman of the board, effective immediately.
