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Wedbush downgrades Nikola to sell on 'dark cloud,' Tesla innovations » Nikola $21.15 / -7.31 (-25.69%) NKLA Tesla $380.48 / -43.205 (-10.20%) TSLA Wedbush analyst Daniel… Wedbush analyst Daniel Ives downgraded Nikola (NKLA) to Underperform from Neutral with a price target of $15, down from $45. The stock closed Wednesday down 26%, or $7.36, to $21.15. The analyst still believes the company's electric vehicle and hydrogen fuel cell ambitions are attainable in the semi-truck market, but he has "serious concerns that the execution and timing of these ambitious goals stay on track over the coming years." The Nikola story changes with Trevor Milton gone from the company, Ives tells investors in a research note. Execution risks for Nikola are now "significantly heightened," says the analyst. Ives thinks the recent questions surrounding the Nikola story "raised by the bears will be a dark cloud over the stock until answered." In addition, the "eye popping battery innovations" coming out of Tesla (TSLA) "potentially changes the game" with further price parity and "throws a wrench" in Nikola's return on investment story around hydrogen fuel cell vehicles over the long term, contends Ives. Show Hide Related Items >> << Company News

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TSLA NKLA Nikola $21.15 / -7.31 (-25.69%) 09/22/20 Nikola founder Milton appears to have deleted Twitter account 09/22/20 Nikola CFO says 'we've heard' when asked about SEC, DOJ probes 09/22/20 Nikola CFO likens production of trucks to Apple's iPhone 09/22/20 Nikola says most components will be manufactured by third party TSLA Tesla $380.48 / -43.205 (-10.20%) 09/23/20 California to phase out gasoline-powered cars, reduce fossil fuel demand 09/23/20 California governor seeks to phase out gas-powered vehicles by 2035 09/22/20 Tesla CEO says very confident can make a $25K electric car in 3 years 09/22/20 Tesla aims for 100GWh by 2022 and 3TWh by 2030 NKLA

TSLA NKLA Nikola $21.15 / -7.31 (-25.69%) 09/23/20 Wedbush Nikola downgraded to Underperform from Neutral at Wedbush 09/21/20 Deutsche Bank Deutsche cuts Nikola target to $29 from $50 after possible 'clearing event' 09/21/20 Cowen Nikola weakness after executive chair's exit a buying opportunity, says Cowen 09/21/20 RBC Capital Nikola price target lowered to $21 from $49 at RBC Capital TSLA Tesla $380.48 / -43.205 (-10.20%) 09/23/20 Fly Intel: Top five analyst upgrades 09/23/20 BMO Capital BMO thinks Tesla project rights not related to Lithium Americas 09/23/20 Raymond James Market overreacting to Musk's lithium comments, says Raymond James 09/23/20 Bernstein Tesla Battery Day long on vision/boldness, short on specifics, says Bernstein NKLA

TSLA NKLA Nikola $21.15 / -7.31 (-25.69%) 08/04/20 Nikola reports Q2 EPS (33c), consensus (13c) 08/04/20 Notable companies reporting after market close TSLA Tesla $380.48 / -43.205 (-10.20%) 07/22/20 Tesla reports Q2 adjusted EPS 50c, consensus (11c) 07/22/20 Notable companies reporting after market close 05/10/20 Fly Intel: Top five weekend stock stories 04/29/20 Tesla reports Q1 adjusted EPS $1.24, consensus (36c) NKLA TSLA NKLA Nikola $21.15 / -7.31 (-25.69%) 09/23/20 Nikola energy partnership talks stalled after short report, WSJ says 09/23/20 Hindenburg Research still short Nikola, founder tells WSJ 09/21/20 GM says will work with Nikola to close transaction, CNBC reports 09/21/20 Nikola's Milton not forced out by board, CNBC's Faber says TSLA Tesla $380.48 / -43.205 (-10.20%) 09/23/20 California executive order to phase out gas cars by 2035, Bloomberg says 09/23/20 Tesla files suit to stop Trump tariffs on China trade, Bloomberg reports 09/23/20 Tesla suffers complete network outage, Electrek reports 09/22/20 Tesla unveils 'tabless' battery cell to reduce EV costs, Verge reports NKLA TSLA NKLA Nikola $21.15 / -7.31 (-25.69%) 09/21/20 Fly Intel: Wall Street's top stories for Monday 09/21/20 Fly Intel: Wall Street's top stories at midday 09/21/20 Nikola plunges after 'shocking' resignation of chairman Milton 09/21/20 Fly Intel: Pre-market Movers TSLA Tesla $380.48 / -43.205 (-10.20%) 09/23/20 Fly Intel: Wall Street's top stories for Wednesday 09/23/20 Fly Intel: Wall Street's top stories at midday 09/23/20 Tesla, lithium names under pressure as Wall Street digests Battery Day 09/23/20 Tesla upgrade, Apple downgrade among today's top calls on Wall Street NKLA TSLA NKLA Nikola $21.15 / -7.31 (-25.69%) 09/22/20 Notable open interest changes for September 22nd 09/15/20 Notable open interest changes for September 15th 09/14/20 Notable open interest changes for September 14th 09/14/20 Nikola put buyer realizes 118% same-day gains TSLA Tesla $380.48 / -43.205 (-10.20%) 09/22/20 Notable open interest changes for September 22nd 09/21/20 Notable open interest changes for September 21st 09/18/20 Notable open interest changes for September 18th 09/18/20 Unusual call flow in option market yesterday

